Okay, we're talking content marketers and SEO people here (yuck), but still, I can believe these figures being at least ballpark accurate.
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Around 15 years ago I employed an journalist to write unique articles for a wedding site project - it was all copied by bigger sites who easily outranked us. A lot f this content was 'ever-green' and is still around to this day.
I learned not to spend so much money on content after this point. I guess most other people did too - hence the general lack of quality.
Ironically, these sites are now complaining about regurgitated AI content. I find it hard to sympathise.