rlange - 2:34 pm on Apr 4, 2011 (gmt 0)
Less than 1% are what I would call high quality. Thus 99%+ are low or mediocre quality. This means that for millions of search terms there simply isn't any high quality information available on the web. That's the basic reason why you see so many low quality pages at the top of the SERPs.
I don't disagree, but I trust that those people complaining about low quality results are doing searches for which they *know* high quality content exists.
If 99% of the potential results for your search are crap, that 1% that isn't crap should be on top if everything is working properly.