As an SEO one of our primary goals is to get more search traffic for targeted search terms. Search traffic is typically far more valuable than other traffic sources because it is so targeted. But non-search traffic is perhaps the single most reliable sign of quality. As Google controls a larger portion of the overall traffic flow across the web, they risk creating self fulfilling prophecies where low quality sites continue to rank only because they already rank.
If you were Google, and discovered that 98% of a site's traffic comes from Google.com might you want to give that site a bit less exposure? I would. Maybe those algorithms do not exist now, but eventually they could.
If you have a site that earns far beyond your living costs, and it is almost entirely reliant on search for income, then one of the best moves you can make for the sustainability of that site is to lower the percentage of traffic that comes from search by creating other traffic sources. The other traffic sources may not be as profitable on a CPM basis, but as you diversify you lower your risks. It doesn't matter how the algorithms shift if your site is strong in every signal of trust they could possibly measure.
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