Are you sure it's 5%? Apparently 250,000 games shipped for iOS last year. If true you're suggesting of those quarter of a million games 12500 of them are making enough for a small studio? I have a feeling that's a pretty high number but I have no evidence to back it up. 1% would be still be 2500 games and even that seems high.

I certainly haven't looked at 2500 games in the last year, probably not more than 100 if that (then again I'm not a the target consumer so I have no idea how many games people look at). Still 2500 games (1%) is over 6 games per day.