Not that SEO is all cheating, but really that people are using SEO techniques to push up their content above other content just because they gamed the algorithm. Eventually everyone has to start gaming the system.
The question I have now is how much cheating can go on before it breaks. I'm curious about this in general because cheating happens a lot (e.g. our recent financial collapse brought on my non prime mortgages). Question is can we measure cheating, can we head it off before a collapse, how much can a system endure and remain stable?