By now filmmakers should be familiar with several models of DIY Filmmaking and Distribution. Several high-profile films have taken the latter course with excellent results but, if for any reason, you are still wondering about the whole viability of DIY filmmaking and distribution read Sujewa Ekanayake's clear, concise, and compelling post laying it out:

"What about fame & wealth through DIY filmmaking & distribution? Usually, on DIY indie projects the filmmaker is also the distributor and can often be the sole worker engaged in getting the movie out to the audience. The bright side of this is that less money (less than for a Hollywood or Indiewood project) needs to be made in order for the project to be profitable. But due to lack of a large amount of capital to widely market & distribute the film within a 12 - 24 month period, the successful DIY films have a different time frame for the completion of the initial most significant distribution phase of the project."