Is Crown Melbourne’s new 2/5 rake beatable long term

Recently, Crown Melbourne (which basically has a monopoly on poker here) increased the rake in their 2/5 game.

The new structure is:

• 10% rake capped at $30
• “Red chip” rake (taken in $5 increments, rounded down)

The game itself is still extremely soft — lots of recreational players, very call-heavy, and generally weak overall.

However:

• Most players don’t buy in for the 200bb cap
• Typical stack sizes are closer to ~100bb or less
• Multiway pots are very common

So while the player pool is great, the rake feels quite high, especially in smaller and medium pots where it eats a big chunk of EV.

My question:

Is this game still realistically beatable long term with a solid edge, or does the rake structure make it not worth playing at all?