Zivush - 7:59 am on Sep 26, 2012 (gmt 0)
Penguin could be kind of completion to what Panda has started.
I think it is not only about content but also more about authority (brand name, backlinks, optimization).
Not only people have to find what they need, but now more importantly trust what they find, hence Google ranks higher authority sites.
If I bring the best single article on earth about Psychology topic, Google wouldn't recognize it because it's not packed with all the ingredients (a full content site about Psychology) - entry becomes tougher.