No, they are not good for business when you keep a budget of $200 million for players when history has proven that you don't need to. The CWS won with under $100 as did the Marlins, the Angels and the D-Backs. The Sox did it for $120 mil.
Yes, it is good for business.
Steinbrenner has 6 World Championships under his belt. Those other teams only have one each.
All those teams combined do not equal the value of the Yankees. There is only one team averaging about 53,000 fans a game. That in itself is incredible.