Yeah, but there is making money, and there is making money.
The main thing that ECW lacked was a big name backer.
Closest they ever came to that, was when Vince McMahon gave them a small degree of financial support, and lent them talent on occasion.

For all the shit that TNA does, they at least secured a large financial backer quite early in their life, where as I always got the feeling that Heyman never wanted to expand to the degree that the likes of WWE, WCW and TNA did, and didnt want to lose control.
Heyman was a great ideas man, but a lousy business man.