Plan your link structure. Start with the main navigation and decide how to best connect pages both physically (URL structure) and virtually (internal links) to clearly establish your content themes. Try to include at least 3-5 quality subpages under each core silo landing page. Link internally between the subpages. Link each subpage back up to the main silo landing page.
Google is moving into more and more aggressively commercial spaces, like jobs, flights, products, all of these kinds of searches where previously there was opportunity and now there's a lot less. If you're Expedia or you're Travelocity or you're Hotels.com or you're Cheapflights and you see what's going on with flight and hotel searches in particular, Google is essentially saying, "No, no, no. Don't worry about clicking anything else. We've got the answers for you right here."
Well as noted in the post it is not just above the links that was only one key part of a wider strategy. This website in question has deep levels of content. So it is not just about a blog section, they have numerous high quality content sections we have developed over time. It would not be advisable ever to attack competitors sites with low quality links.
If we can do that effectively, it is in the best interest of the search engine to serve our content to our target audience for us, providing highly targeted visitors to our pages at no incremental cost. This is the secret to the organic channel, and why organic search listings are so valuable. Other channels often come with additional cost for each new visitor provided.
Well, yes and no. Sure, you can get hit with an algorithm change or penalty that destroys all your traffic. However, if you have good people who know what they are doing, this is not likely to happen, and if it does, it is easy (in most cases) to get your visits back. Panda and Penguin are another story, but if you get hit by those it is typically not accidental.