I think you're missing the point. Money making for whom? The flight test is normally done internally by a check and training captain (airline flight examiner), the only money paid to CAA is $50 for the lisence issue fee, and that should also be covered by your airline.
There is a big difference between an ATPL check and a single pilot MEIR renewal in a PA31. The additional assesment concentrates on decision making, CRM and command ability with respect to a multi crew operation using specific SOPs, in a high performance aircraft. That's in addition to the normal legal, proceedural and performance knowledge required for an IR renewal, and of course flying ability.