Unserved Niche: More Profitable Than a Crowded "Wider Audience"?

So many companies stab the niche audiences that got them where they are in the back to appeal to some phantom "wider audience", while others go straight for the lowest common denominator. A few make a fortune, the vast majority go broke. Would it be better to go for an unserved niche instead?

Intro/Outro by Walker Trips:
www.youtube.com/channel/UC71c43_lOSAOMPOKj0MpgCQ

Blade Devil in demand now!:
www.indiegogo.com/projects/blade-devil-ghosts-of-the-past-graphic-novel

Stream backup channel:
www.youtube.com/channel/UCSWxZ5STQV38ExkQ_ySA-vg

First 17 pages of Blade Devil:
twitter.com/RageGoldenEagle/status/1252091012777832449

Also in Spanish!:
twitter.com/RageGoldenEagle/status/1253374972388495360

Blade Devil merch store!:
teespring.com/stores/blade-devil-official-store

Get your Blade Devil updates here:
twitter.com/SickFoxStudios
twitter.com/RageGoldenEagle
www.instagram.com/raginggoldeneagle/
www.pixiv.net/member.php?id=13893241

Thumbnail from Re Zero kara Hajimeru Isekai Seikatsu