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Google does not discount reciprocal linking. You just do not want to utilize only that form of linking.
I would suggest using some of both. A relevant, solid link that is recip will outweigh a non-reciprocal of equal value without relevance. They are especially valueble from a historically "authoritive" site of relevant niche or theme.
Almost all "commonly known" things about SEO are incorrect, or maybe better put, are conditional on certain factors. Nothing is really cast in stone except the fact that the big picture is the most important.
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