I have a mix, but in the past year most of my links have been generic and none to a few exact keywords.
I have dropped about 60-70% of my pre-May traffic.
And since then I have removed most of my ads, Ezoic was a user experience nightmare. So that is fair if that caused me to drop - but no real recovery so this so far hasn't returned my traffic
I have updated content, both made it fresher, rearranged it to push up the main information the user wanted, and then supporting content was moved to the bottom, following Marie Haynes advice - no recovery yet, this was done mostly in the past weeks but no real effect yet
I have added more backlinks (naturally) - might have seen a boost for 1-2 posts which were linked to. But these links had no effect on my site in general or other articles
I have continued to add a lot of content, focus on UX and improving my articles to be better than the top 1st page results - no effect on old content or site in general, nor have these new posts climbed up to any top spots yet