It can be if your smart and play the game the right way. Reselling shared hosting can be easy and hard at the same time. To make a profit off a reseller you would have to make your plans cost enough to hit that point or make a lot of sales.
What are you looking to resell from? Are you looking to buy a reseller or resell a providers packages? It really all depends on how and what way you do it.
Who has the coffee pot?