I stand by the notion that the first scenario (making $1M and spending $750k in rent) is strictly better than the second. Of course I also agree that making zero dollars and spending $750k in rent is considerably worse than spending $50K rent. But that wasn't part of the original comment.

Essentially, I claimed that Scenario X is better than scenario Y, but now you're saying "but! What if scenario X suddenly becomes scenario Z?".