Certainly, with Google Panda, search has become survival of the powerful. The rest of us get a little traffic here and there. But the big sites don't even try to link. I don't know where all their backlinks come from because if you go to their sites, you can't find them linking to anyone. If you go to the big sites like Bestbuy.com you can't seem to find where they have linked to anyone on the front page.
And if you search, what generally comes up are the big retail and big news sites. They have no links on their front pages to anything! I am just going by observation as I am no SEO expert.
I just don't get it. I don't think that backlinks are irrelevant, but I just can't find any when I go to the big websites. Something is fishy in Googleland. Archive Link