I personally see and feel better taking the approach of building a technically sound websites with good UX, getting a dedicated marketing manager who can write good copy (and not this SEO drivel of 10 paragraphs with no substance) and then know how to engage with customers instead.
Well, here's an SEO (and I can point you to probably 300 others) that don't feel slimy. We don't do "10 paragraphs with no substance". We help companies make their websites more usable, more targeted, and with better content so that they deserve to rank. I wish I could show you the websites that we work with that are actively doing SEO. Any big site is.
I suppose part of the problem is the low barrier to entry combined with the fact that it's the web (which is also there playground) so you see and hear more of the bad ones than you do good