If it is just admission revenue (rather than admission+sales), I'd say it is at least possible. Admissions are coming in off of multi-club day tickets (which are often discounte), Plus options, and PAPs. A day-ticket guest can't book more than $22, and if they visit two clubs (say, CW and AC) then it's split. That's before discounting. APers get $4 off. DDE holders get the tickets 1/2 price.
If a Plus option visitor visits both waterparks and AC even once, then they book at most 1/3 of the revneue of the option. Probably less than 1/3, because I'm guessing they don't book the revenue equally, as the waterparks are "worth more". Again, if they visit two clubs that night, then AC books half of the "PI-designated" revenue. So, figure about $8-$10.
PAPs pay about $180/year for all the extended options. But, passholders almost always book lower admission revenue than day guests.
Now subtract all those College Program CMs who hang out there twice a week, 'cause they are free.
Add it all up, and I would be surprised if the per-guest admission revenue exceeded $10 a head.
All that said, I'm pretty sure that the AC, viewed alone, is almost certainly profitable. PI as a whole might even be in the black. But, on a $/sq. ft./year basis, it almost certainly under-performs the rest of DTD by a
very wide margin. You could blame Disney for letting it get to that point, and I wouldn't argue with you. It seems to me that the beginning of the end was the development of the West Side which led to the removal of gated access for the Island.
I don't expect to see anything like PI returning to Disney property for quite some time. I would not be surprised if something that looks like the adventurer's club re-appeared sooner rather than later, perhaps as a standalone entity in DTD.
As for a campaign to save PI? Not going to happen.
A campaign to salvage AC? Maybe. But, the best way to have saved AC is to have patronized it more often. I suspect that would not have been possible for some.