Some of this is simply a response to Panda in general by a number of websites: Pandalize me? Well, okay, I'll quit even trying to pretend I'm playing by the rules. And then what happens? They get rank! (Scratching head)
Really small B&M putting up their first biz site might also operate under the old concept that all links are good and have fallen for those "Hi I'm X and I'd like to link to your site..." link spams.
I also believe that Panda has been a bigger project than G initially intended, particularly since it was supposed to shrink the web and their index. Their holiday for new sites has been abused to a greater extent than all the content farms removed. [webmasterworld.com...]