What I think has gone is the option to study a bit, get a camera and open a suburban photo shop, like we used to see in most shopping centres. Now you have to create your niche. That's not to say there aren't opportunities, because there are, but they cover a very wide range of things and there is no formula. Even wedding photography requires something a little more than just turning up, taking some nice photos and putting them in a nice album. It really helps if you really like weddings and can be creative about the job. If you just want money then become something other than a photographer because you could probably earn more elsewhere. It's like film or music or acting. Some earn heaps, but most do it because they love it and many just scratch a living.