Profitable from an operations perspective? Surely close since they charge the same order of magnitude as an Uber/Lyft and have fewer than one driver per vehicle (monitoring the vehicles).
Plus I guess they need high resolution maps? Not sure if that is a significant cost factor.
For the high resolution maps, that cost is fixed per market area. It could limit a rollout to new markets by driving area.
Plus, at least some of the Waymos are super-fancy Jaguars -- tho it looks like roughly 20K Jaguars to 65K Chrysler minivans, according to Wikipedia. Still, they're all brand new vehicles; even with bulk discount, that can't be cheap.
Pretty effective press release! Nothing in it is untrue, but it's obviously misleading even to careful readers.