Can Alchemix and Alchemix USD (ALUSD) make money from synthetic lending?

Alchemix (ALCX) is a DeFi platform that lets people borrow against synthetic assets. The synthetic assets Alchemix lends money on includes the Alchemix USD (ALUSD) stablecoin.

Interestingly, Alchemix claims to offer “self-repaying loans” that let borrowers leverage synthetic assets and cryptocurrencies. To explain, Alchemix creates synthetic assets backed by popular assets such as Tether (USDT), USDC Coin (USDC), Ethereum (ETH), and MakerDao (DAI). Users can use those assets as collateral for loans.