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There's also a knowledge gap for the majority of players.
Crafting tends to be profitable because demand is high and the amount of profit crafters is sufficient to not flood the market.
Profit crafters will know what items are in demand for the meta and how to craft them, and properly adjust as people move onto new builds.
A lot of times when a major streamer posts a crafting guide for an item for their build it usually crashes the market, driving up the cost of the materials/bases and dumping all the crafts on the market.
Flipping is also one of the most efficient ways to generate currency, people rarely do that either. The knowledge gap is far smaller there