It's not the website or affiliate model that makes or breaks such a business model, it's usually the traffic and its quality.
Conversion rates are usually high for such websites, but seo traffic is a bitch to obtain, due to relatively low quality content on the page, and the ephemeral nature of the products. Most of the keywords targeted are bad, and it's hard to rank for product name, usually manufacturer and top retail stores for that product get all the traffic.
Such websites rely on facebook, trying to get viral and in general social traffic. If you are a wizard with that , you can make money. If not, you will be one of the thousands clones not making any money.