The article is interesting, but very biased and a bit misleading. It is a marketing pitch written by a company who is pushing an alternative approach. I see an obvious agenda that may be just as much of a scam as what they accuse others of doing. Based upon what I read, it is obvious that they are going to try to make every SEO project look like a scam.
I fully agree that a lot of SEO companies aren't doing anything worthwhile for the money that they charge. But the legitimate players have never pushed the idea that more traffic is better. They have always promoted the concept of "targeted traffic", which is exactly what the company who wrote the article will do.
A lot of legitimate SEO companies have moved into training in part because it is increasingly difficult to convince a company to spend thousands of dollars on SEO work with no guarantee of success. There is also a legal liability if an SEO does try to offer guarantees. It is much easier to train corporate web development teams how to use proper SEO techniques than it is to fix a web site that was horribly designed from the beginning by the same team. Most corporations have budgets for training, while SEO projects generally have to be approved as a special project.
Given all of the changes with Google over the past several years, no one can legitimately offer guarantees. That does leave much of the market to the scammers who prey on naive web site owners.

Originally Posted by
DomainMagnate
Site conversations are unrelated to
SEO though, so don't mix up two different things

An excellent point. There is an old saying that goes, "You can lead a horse to water, but you can't make him drink." Even with targeted traffic, the problem with conversions is frequently one of a poor product presentation or a mix of products that just don't sell well. There is also the issue of the recession. We see a lot of web sites where the targeted traffic is steady or increasing, but the sales are declining because people are hesitant to spend money.
"It's inexcusable for scientists to torture animals; let them make their experiments on journalists and politicians." -Henrik Ibsen
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