Seems to me it's more of a work hard, put the effort in, give google what it wants type of stuff now. Blackhat was about spam Google, duplicate content, finding ways to trick Google.
Google has also made it tougher to just spam away and profit. If you want to spam backlinks and wait for google to trash all your work in six months, go for it. If you want more durability across google updates, you need to make your sites less obviously black hat.
Social media has also changed a lot about how people find and share content. Those are new opportunities but search results are not always the best or most valuable way to build revenue.