Are subscription boxes still profitable?

I've been hearing mixed reviews about the profitability of subscription boxes. Some claim that they're still a viable business model, while others argue that the market is becoming oversaturated and it's getting harder to stand out. As a business owner considering launching a subscription box service, I'm curious to know: are subscription boxes still profitable in today's market? Are there any specific strategies or tactics that businesses can employ to ensure their success in this space?