If the difficulty of a given block is that high,yes. I was thinking something more like litecoin: you'd have way more computational power total witha lot of participants, but each individual amount of work would be smal and so the risk would be low.
Fundamentally if there are N blocks mined per month and, say, 10N miners, each miner will get paid very rarely which will scare them away. The only advantage of Litecoin is that it mines blocks at a faster rate than Bitcoin.
