Risk is necessary. No resource and no way to get income should be risk free, in my opinion.
Does the Gold Smith have issues? I think it does. But more in terms of the tremendous investments needed (and also the tremendous potential incomes in the long term), and the fact that you need a very high level Gold Smith to make any profit at all.
I think it would be better if the investment AND potential profit had been smaller, and it had been possible to earn gold from level 1 - with a limit on how much you could produce, not on the price to produce gold bars. This is an entirely different discussion, though, so I have no idea why I brought it up. My apologies.