You're absolutely right that after 10 years, he should be making more from that website. That stats speak for themselves. You alluded to the fact that 2,000-3,0

You're absolutely right that after 10 years, he should be making more from that website. That stats speak for themselves. You alluded to the fact that 2,000-3,000 people might be daily active visitors (just considering your "night" comment). How many of the 110k users are active? If he's only getting 50k uniques a month, it's likely that only 10%-20% of his registered users are active. A registered user doesn't count for anything if he/she doesn't come back. Either way, I think his issue is proper monetization. Everyone hates Adsense, they're return visitors to the forum, not visitors from search (Adsense does better with visitors direct from search).