The notion that content is king is a myth, because it's based on a fallacy, namely the following: 
'If you build something good, the customers will come themselves'.

If that would be true, marketing wouldn't be necessary.

Content is important, but it's not everything. Some people believe the consumer is king while others believe that the media is the most important aspect. I disagree, and I think we can learn a lot from the way Google ranks it's search results, and the way it works is this:
If people say it's good, Google thinks it's good.

The algorithm is pretty complex I reckon (and secret) but in simple words, the more mentions a website gets, the higher it'll be listed in the search result. It's very democratic when you think about it, and it has little to do with the quality of the content, but everything to do whether people think it's worth sharing.

That's the way you find content on Google.

So I reckon there's a lot to learn from the way Google priorities search results, as it's metaphorical to the way we receive content.

Let's analyse. There are many systems on which to catagorize SEO but I've choose these three basic components:

Content
For Google, webpages are the content.

Audience
For Google, internet users and other websites are the audience, as they mention other webpages.

Technical means
For Google, it's their own website, with their servers.

So now let's apply those three things on this photo of a man who is King, unlike content.

Content
Martin Luther King is the content. The famous 'I Have a Dream' speech is his message.

Audience
The few people behind him and the 250.000 people who stand in front of him, plus the ones at home, behind their televisions, are the audience. They will go on and tell others to take note of Martin Luther King (assuming they think it's worth sharing).

Technical means
All the microphones, the television broadcast and this picture itself are technical means that helped to spread his message.

Now, I believe these three key elements are equally essential. Would you take away King, then there would be no message. Without an audience, nobody would hear him and without the means nobody could hear him.

I can't target anything specific to be the new king - and I won't. What's essential though is the mix of elements. That's how we get noticed, whether it be on Google or anywhere else.

Further reading: 
Content is catalyst