In the old days were algos were lineal blackhat made a lot of sense. Nowadays we can still find some lineal algos that are worth exploiting/black hatting, but when you talk about SEO, it's like a lottery. You will never know how the new AI will impact your method, so the risky factor only makes it worthy for extremely profitable niches in a short period of time or for cloudy affiliates, which need fast results in a short period of time.
Meanwhile I would not fully reject BH techniques for SEO, but done in the background, just for the sake of building a covert stronger reputation which is the secret sauce of the 99% of the sites that have gone big in a relatively short period of time.