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The definition of SE traffic changed forever, the traffic pool changed forever.
It's very simple - the most free stuff attracts the most attention, unless google starts to block these sites (I don't know if it's possible to send something as DMCA complaint that someone pirates your goods etc.) you'll hardly see SE traffic getting closer to what it used to be.
Still, there are niches that are not pirated (such as ours) and the traffic still converts
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