It's not easy, but you can make a professional level game for .25-.5 million dollars or even less. I (read: we) lost more than that on my first business.
I agree that it is harder than I first made it seem. Whether it is a game, a restaurant, or any business that isn't tied to the real estate it's gonna be tough to get by, and it's always hard to get people to buy a product. The rewards however can be much more substantial than real estate.
I don't agree with your use of almost, because everyone's idea of almost is different. France is considered an almost free market, but it is way too closed for my taste (Different strokes for different folks. My idea of almost free market is "don't tell me how to run my business, unless I am hurting people or the commons"). I was using free market in a Smithian way, implying that under any legal system it can be assumed that there are always going to be some regulations.
I would cite regulation, but I know you will simply ignore it.
