Sounds like just bad quality links possibly OR just google shuffling
A) Do all of your links, point back to the homage page as 'home' ? ? ?
B) I like to have a few articles that are exclusively linked to from the home page, that are useful to visitors
C) Is your home page content really well done? High retention?
SO...... To answer your question about links, NO , they should not matter if of quality
This goes to my other post, earlier today about sites BLOWING UP overnight b/c of a viral story or something and they top search no problem. If the quality is there, you're fine.
If you were taking cheap routes, shortcuts, then you can't be mad at the results.
You knew you were trying to cut corners when you engaged in low quality services and the results, can be painfully the exact path of what you hoped not to have happen
BUT......
I would def diversify and link to some other pages... Some that are deep linked to, in particular
Also are your "generic" versus "money" achor text keywords 7 to 3 ?
7 links of 10 should be basic "site.com" or "click Here" , etc type of links
Hope this helps!
- GNBL