You may be able to make money with an ATR "low cost".
But
The prices will have to be lowish cost.
The markets need to be small. If one of the jet operators sees lots of pax per day they will jump in. If they do it will be "Jets 1 ATR 0".
Capts will be a problem. Mr ATR will get losts of fo's at 14 - 16,000p.a and they will pay for the type. The prob will be to get and keep Capts with the hours to do the job for less than 40 - 45,000p.a. Even thats a LOT MORE per pax flown.