It might be possible to create a sufficient infrastructure for some kind of sustainability (provided that there is adequate extractable water within the lunar regolith), but the investment cost would be enormous and the fiscal profit small to non-existent. There are also significant practical problems of operating on the lunar surface; see NASA/TM—2005-213610/REV1 The Effects of Lunar Dust on EVA Systems During the Apollo Missions, James Gaier, April 2007. As Eugene Cernan said, “I think dust is probably one of our greatest inhibitors to a nominal operation on the Moon. I think we can overcome other physiological or physical or mechanical problems except dust.”
Building orbital habitats using material from Near Earth Asteroids is probably more feasible and practical for manned space exploration, but we are several decades away from having the technology to make even that sustainable. The practical uses of a lunar base can be measured on the fingers of one hand without unrolling a fist.
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