Would such a situation be possible or would the attractiveness of any such opportunity always drive supply up and prices down such that $1/min is not possible a

Would such a situation be possible or would the attractiveness of any such opportunity always drive supply up and prices down such that $1/min is not possible as an equilibrium in reality? That depends upon the barriers to entry. In order to keep the wages high, you need to keep the number of people capable of doing the work small somehow.