I think the answer to this might be simple. Although everyone is flipping out over content created for
ads and PBN links being the issue (which in some cases they may), I think
both are highly unlikely.
1)
Google now ignores/devalues links it feels are low quality (not penalizes).
Source
2) If this is the case, what good will disavowing anything do?
Google is already ignoring your links that it thinks are shit. So why start to kill 100 links (admission of guilt) when Google may think 90 of them are still great?
3) If your content is written only based off high advertiser competition keywords (for the purpose of generating ad revenue), and you've written unique and high-quality content that users are engaging with, what makes you think that's a problem? You know if Google penalized sites that utilized AdSense (their own damn product) they'd be choking their biggest money maker off at the neck, right? How absurd.
If the search query still exists, then someone must be ranking for it. You can't penalize everyone who targets specific keywords. Why would Google drop your site and raise 5 others for a query that makes money? What did they do right that you didn't? Makes no sense. If I were you guys, I would
NOT go back and underoptimize my content and strip all ads. That's just nonsense.
MY BIG THEORY
Given this post here, and from a small handful of websites that I've seen, I suspect this is an issue of the
RATIO OF QUALITY VALUE-ADDING PAGES TO TRASH PAGES, not optimized/monetized content. For example, if you have 1 blog posts and 20+ tags, then that single blog post can be found on 20+ useless pages. Therefore, your ratio of quality pages to shit pages is fucking shit. However, if you have 20 blog posts and 0 tags, Google will love you long time because all of your pages add value and doesn't rape their crawlers for resources when they have 1 billion+ websites to crawl. Google may actually consider excessive tag pages as "
doorway pages" according to the quality guidelines (which were the target of the Fred update).
Something to think about before hacking your entire site apart... for us WordPress folk, removing tags/categories from your sitemap, noindex the pages and resubmitting sitemaps is a very quick and low-risk attempt at traffic recovery. Worth a try before ruining hard earned backlinks for life.