Farmers can make a lot of money, or at least somebody does. A single family Saskatchewan dryland wheat farm is typically worth $10M in land and equipment so either the farmer makes enough money to pay the interest on a multi-million dollar bank loan or enough money so that continuing to farm is preferable to retiring and living on the interest.
The problem is of course the variability due to weather and wild swings in commodity prices. A farm can produce a high six figure income one year and lose six figures the next.
But as you noted, if you're not looking to pull six figures per year from your farm, then it does become quite a bit simpler.