And to a large degree they are right. However in the Torah we do find a third way--a path in which one learns Torah all day and yet depends that God will send to him his living needs without depending on charity. This not just some opinion of mine. It is a direct Mishna in Pirkei Avot.
But this seems to depend totally on one motivation for learning. In this case we are not looking at teh question if an action is right or wrong independent of intention. Here the rightness or wrongness depends on intention.
In any case I find it difficult or maybe impossible to recommend learning Torah all day. I can see that this is justified for some people depending on the pureness of their motive. But what usually see is bad results. And I thin the bad results are because the motives are not pure. But who can tell such a thing? I can't judge other's motives. But the results are open for all to see. One Torah becomes means for making money then the results seems to be consistently bad.