That is a nice theory many (especially google) would like me to believe, but if that is the case, why majority of my google first page results can be classified as SEO spam?
But since then... nothing, and the content farms are prominent again. Google doesn't care because the competition isn't significantly better, and they don't actually care about the search results, they care about ad impressions which they will get regardless of how people end up on pages - or what pages for that matter.