Hobby CNC mills like the Xcarve or the shapeoko only have a 3"~ Z axis. That's on top of the normal limits of carving out of a solid block of material vs printing from nothing.
I don't disagree though. Much of what people demonstrate with a 3d printer would have come out better with a hobby CNC mill.
Also, not everything can be injection molded.
There is certainly a place for 3D printed products (I know, since I am selling some)
* http://www.amazon.com/dp/B00QPA3K92 * http://www.amazon.com/dp/B00TTCHHJ2 * http://www.amazon.com/dp/B00RYFM3R2
I have few more ideas in a pipeline. It is not bringing much money, but it does pay for my hobby.
EDIT: I am also open source all of the stuff i am selling (under non-commercial license for obvious reasons) - https://github.com/hippich/stl
They're invaluable for people who are already "makers" though. Let's say you built an Arduino/RPi weather sensor (lame use case, but insert any use case here) and you need a way to mount it on a pole on the outside of your house. You can either find something on Amazon you think might work and go the trial-and-error route, or you can design a simple bracket in a CAD app and 3D print it.