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https://archive.is/2pBBw

They found that, overall, "higher-ranked pages are on average more optimized, more monetized with affiliate marketing, and they show signs of lower text quality ... we find that only a small portion of product reviews on the web uses affiliate marketing, but the majority of all search results do."

They also found that spam sites are in a constant war with Google over the rankings, and that spam sites will regularly find ways to game the system, rise to the top of Google's rankings, and then will be knocked down.

There's also the matter that Google itself is manipulating the results for their own objectives.