Been there and still there :-)
On one site I have 15k Facebook page funs, 25k twitter followers and 10k email subscribers. They contribute to site traffic but not as much as G organic traffic.
I know it's my weakness that I don't know how to sell scam products to them or activate them in ways others do (if at all).
Think as an advertiser.
Which site would you want to see your ads appear? A small, forgotten site or a big brand site?
Now think from G point of view. Which sites Google will want to give you an option to show ads. Legitimate or unknown?
Better/easy for them to sell X times 10$ RPM ads than 10X times 1$ RPM.
When big money involves, it becomes a market of sharks. We, small publishers, are too small to compete big sites in terms of reputation. Google strategy follows where the money leads them.