[archdang]

It's a narrow and poorly supported view that it truly was money-losing.

Such claims systematically ignore the $45 trillion (current value) extraction from India, and treat the counterfactual of Britain with no Empire incoherently. The captive markets the Empire forced mattered enormously and are too often obfuscated now. Certainly a big part of Empire was about transfering wealth to the elites, so the layperson, or perhaps "Britain" as the state alone if that is your meaning, did not see as much of a direct monetary benefit as they might have.