We can't lump all MLMs together. :o
The tried and true programs with real (decent) products and solid upper management are still very profitable.
It's the hyped-up, get-in-NOW-and-make-a-million-bucks-from-spillover programs that are a usually a complete waste of time, effort and money. Unless you get in very early. ^_^
Just my experience of over 10 years (offline and online) in these.