Many independent developers are doing quite well with their apps on the AppStore. If you're a University student in the U.S. and want to start learning how to code for the iPhone check out Apple's new iPhone Developer University Program and put some pressure on your Professors to get the program running at your school.
"The iPhone Developer University Program is a free program designed for higher education institutions looking to introduce curriculum for developing iPhone or iPod touch applications. The University Program provides a wealth of development resources, sophisticated tools for testing and debugging, and the ability to share applications within the same development team. Institutions can also submit applications for distribution in the App Store."
What can be done with this program?
Instructors can set up development teams with as many as 200 students.
All the resources of the iPhone dev center