Yes mate. I bet there are thousands of bikes wasted every month.. Especially the ones re-claimed from around the train stations? Hard part is sorting the salvageable from the non salvageable.
Have since fixed a few up and re-homed them for a little cash but not really for profit. Not sure how people make money doing this? Have also started working a bit on days off at a recycle centre refurbishing old bikes and adopting them back out.. kind of like yaps for bikes!