Cloud mining is very similar. You can make money, but the only way to really be profitable is to have legions of followers on social media who use your codes, advertise your codes to your friends, (I would guess to say that most people who are heavily into referral based cloud mining would tell their loved ones to NOT join) or swap codes with other people constantly.

If you want to mine, get yourself a rig and add to the hashpower of a mining pool. Do not cloud mine. Or buy an expensive mining rig and do it yourself.