Chad -- I get where you're going here and maybe you're overstating to make the point. But your examples are B2C -- they don't hold for B2B/B2G content marketing campaigns.
The campaigns I run are quality over quantity efforts, so I don't need huge audience numbers. The content needs to engage, educate and (sometimes) entertain a very defined market of prospects. It needs to support the product or service of the client, but in a very indirect, thought leadership fashion. Lousy content can't do this.
Of course promotion is important, and of course integrating all the PESO content components magnifies success. None of that means that quality doesn't matter.