It wouldn't be too bad if it was likely to last for a year or more but without upgrades the sales are likely to fall. By the sounds of it once you are out of the top 100 they fall quite a lot. Remember also that the guy has nearly 20 apps in the store and this is likely to be his best seller so he's probably put in more than a weekend or 2.
You are making one REALLY bizarre assumption, that the $20/day is sustainable (it isn't, and is likely to last only a month or two). And as the comment above points out, you are also assuming that the $20/day is a guarantee. It isn't. The $20/day app is in the top 50 in its category. That's a _successful_ app.