As others have said, the opportunity for PvP riches is there if you're a mega tryhard grinder. Problem is, for everyone else, PvP doesn't even cover its own costs. PvP would be more popular if you could minmax your entire PvP build with AP, without need for weeks of flower picking or capitalism simulator or whatever else makes PvPers quit rather than compete.

And I say this as someone with a huge gear advantage over most other PvPers. I'd only be nerfing myself.