New to stock market.

I did some research on leveraged etfs and I found TQQQ used to be 1 dollar. If someone long hold TQQQ back in the day, are they really profiting 60 times if they sell it now?

It seemed to good to be true, so I also checked some weird shits behind the veil, and apparently some reputable websites say leveraged etfs tend to have significant tracking error in a long run and they are for day traders, not suitable for long hold.

In this case, I would like to know why based on the price now and total return over the past ten years, TQQQ seems to be a good choice for long hold if someone dump some money they will never use into it.