You may be right, but at the same time his niche success is much closer to "what I'm looking for" than the latest SEO-trick-de-jour.
While I'm impressed by the ability of people like Rank and Greywolf to identify and exploit new-found SEO techniques for short term profit, with the knowledge that Matt Cutts' team is going to be hot on their trail as soon as anybody notices, I'm _significantly_ more interested in Patrick's longterm sustainable business strategy.
While I might be prepared to go out on a grey-hat SEO limb for an idea of my own with only a marginal chance of success, I'm _much_ more cautious about risking Google blackholeing any great ideas I've got, or any of my clients' sites...
I guess what I'm saying is that "excellent writing and marketing" _is_ a magical SEO technique. It's not a $50k/month affiliate scheme or a $2k/day Adwords trick, but I suspect Patrick's BCC is a properly valuable business that someone might sensibly buy off him one day. I'm not so sure I'd ever consider buying a quick moneymaking website off Rand or Michael...