Yeah I mean it depends. I'm definitely at the point where most of the time it feels like a job. As far as jobs go it's not a terrible job, it's a job where I get to stay home and watch netflix while eating snacks and hanging out with my kids that wander in and out of the workshop, but a job I end up spending anywhere from 5 (common for weekdays) to 12 (common for weekends) hours a day at. I have to answer emails, keep track of and restock inventory, set deadlines for myself (because nobody else will), deal with suppliers and distributors, attempt to do marketing, etc. Sometimes if I'm lucky I have time to design and build pedals.
So if you enjoy doing it as a hobby and want to keep enjoying it the same amount, keep it as a hobby. If you hate yourself and want to sleep less, starting a business is the way to go.