There are a lot more miners now, so each miner makes less money. Actually the reward was cut in half a couple of months ago, so even in aggregate, they'll make money at half the rate CPU's used to.

It all depends how you define money. The reward halving seems to be correlated with a price spike in the Bitcoin exchange rate, so although fewer Bitcoins are being mined per block, their total value is actually about the same today as it was before the reward halving.

I do agree that there are more miners now, which lowers profits for individual miners.