It's not that simple, blacksmithing requires a giant amount of time, to make 1 million from 0 bs you might take 300 days in game. It's because basic resources are limited and the time to smelting and forging are huge if you consider the amount of material you need to smelt.
I have my character 250 bs, 1 companion with 180, at least 7 companions just helping smelt and it takes a lot of time to make money.
Also, you need to invest skill points and status to grow up your blacksmith.
I believe it's pretty fair, also, why you want to struggle for money? I was doing quests and managing my shops and city and it was pretty hard to keep my personal wealth decent to go on wars and recruit as many troops as I need. I've also tried go trade, but it's hard to make money too.
My suggestion is to create more ways to make money, not nerf the only decent way that exists.
