Earlier quoted context omitted.
You mean they tried to make a useful site. During that period search engines were new, and people didn't yet start search result optimization hacking. Which meant ranking was still a good proxy for site quality and not for optimization hacking. The conscious choice to leave the money on the table is exactly the same. Instead of optimizing for cash value which is just a proxy for real value, wikipedia optimized for qu…
I hate to disagree, but SEO as an industry was booming pretty early on. I remember going to a conference in 2001 that was massively popular. The type of stuff you'd learn there was pretty outrageous and very very black hat (so much so, that people sharing those tips were too self-conscious to reveal their identities, hence the term black hat). My point is - you could very much do very well back in those days regardle…
These days, there still are a fair number of mostly low quality content farms. But there's also high quality content marketing. The latter still definitely is aware of things like page views, how far people read through an article, what type of headlines seem to be most effective, and so forth. It starts with good content that readers are interested in though.