Not really no....I would rather work in the music industry.
I've thought of the gaming industry as a "Plan B" for me, though I have been studying a little more computer programming. Perhaps those who want to work in the industry but are afraid of the slave-labor conditions of the bigger studios should start their own little indie studios or projects. Maybe we could come together and design some sorta game. But of course then there's the money you get for making most indie games (a.k.a. "I hope you have a day job").
I was deciding on whether to do game design, or video game journalism. I'm choosing the latter right now, since I prefer writing. I was considering maybe trying to find out something for a writing job in the video game industry, but I hear they're rare to find and I'm not sure where I would start.
I work in design (not games) and the answer is: NO. No chance in hell. For the younger forumites here, be careful if you choose to go down this path. It is hard, it is thankless, it usually does not pay particularly well, it is stressful. There are much easier ways to scrape together a happy living than this.