The number of searchs by itself doesn't help much. When you do a search (broad or not) you also need to see the number of sites that include that term. So while in adwords Google may say that there is 33,000 searches per month (which is quite low), if you go to Google itself and search for that term, it will say tell you "aprox 4,000,000 results in 0,29 sec"
This figure will tell you how much competition you'll have. So 33,000/4,000,000=0.00825. This means that if traffic was spread evenly (and in case the these searches were all real, not misspellings or people looking for something else but that confused the term, etc), each page would only get a 0.8 %. Which such a low figure, making a site like this profitable will be hard, had work.
As @Mikl; said, there are many factors that may do a site profitable and this information is just one more indicator, nothing else. Should it be taken into account? Sure. How reliable it is? Not much but it may indicate you how hard would be to get organic traffic and that if you want to sell something you may want to rely on offline advertising or CPC or radio ads.