Well, you probably can't survive off playing video games, but you could certainly restructure your life around them. You simply stop and ask yourself before any life decision, "How does this maximize my gaming?" Your day-job, your social calendar, your home, your diet -- everything can be optimized to give you the most time and the highest-quality gaming.
Now, maybe games aren't your thing, but this ultimately applies to anything, hedonistic or industrial or altruistic. Whatever is most important to you -- gaming or family or mountain climbing or mathematics or civil rights -- you can restructure you life to maximize the amount of time or impact you have on that one thing. It doesn't really matter if it pays the bills.
Now, maybe games aren't your thing, but this ultimately applies to anything, hedonistic or industrial or altruistic. Whatever is most important to you -- gaming or family or mountain climbing or mathematics or civil rights -- you can restructure you life to maximize the amount of time or impact you have on that one thing. It doesn't really matter if it pays the bills.