I've come to the realization that only one of my series and one of my stand alone books make real headway with AMS. With that in mind, I'm going to say (regarding my own books only):
Only the best work makes money in the long run with AMS. But keep in mind that what you consider the best cover, blurb, intro, and story may not be what the masses consider the best.
Even a stand-alone can make money with AMS.
If a book isn't selling there are many reasons why, but if the cover and blurb are good and there's some advertising going on, it's the story. And that means the writing is bad.
For more detail:
I have a stand-alone non-fiction that sells 100+ copies per month (paperback and Ebook) plus page reads when I spend $100 a month in advertising. It sells half that when I don't and I'm afraid if I stop it will dwindle to nothing

I have a stand-alone fiction that has similar stats with/without advertising.
I have a series of four books that is dead in the water with/without advertising.
I have a series of three books that sells moderately without, but sells more than 100 copies of each monthly with $200 in AMS.
I have six fiction books that sell almost the same whether I advertise or not - all wide.
I have seven other books that are all stand-alone, some fiction, some non, and they are dead in the water with/without advertising.
You can't sell a dead horse, but you can ride a long way on a live one.
I sleep just fine knowing that about 50% of my work (yeah, including my ghostwriting) doesn't sell well enough to support me. It's the average that counts, so don't quit after your first attempt. You never know when you'll do your best work, or when your best work will sell.