Phantom, you just disproved your own point. If they can gross $1.5m and net $500k per week, the show will be able to eventually turn a profit. The only way it would be "impossible," as these misinformed people keep stating, is if the weekly operating costs exceed the maximum gross potential for that particular house.
The only writing on the wall is your inability to properly understand the situation. Shows that were expected to be disasters have been hits (Mamma Mia!) and shows that were thought to be bulletproof have tanked (Young Frankenstein). These producers have their work cut out for them, but they are ambitious, not demented.
If the audience could do better, they'd be up here on stage and I'd be out there watching them. - Ethel Merman