Just saw a page ranking top 3 that was only keywords listed... one per line.
At the bottom there was a box for a mailing list subscription.
no images and nothing else.... just keyword stuffing and one call to action.
My guess is that bot farms are automatically googling, clicking the result and subscribing to the 'newsletter', leading google to think they were a successful conversion and ranking absolute trash.
At this point I'm almost certain the black hats are faking user data to brake whole SERPs, manipulating google to rank things differently by manipulating user intent using bots. Google has long since admitted that they track 'conversions'.... I'm not sure who to be mad at... the black hats trying to rank without merit or Google that can still easily be tricked after all these years.
But the weirdest thing was that there was not even a link on the page... only keyword stuffing... so noone seemed to benefit from the traffic. Granted, I had adblock on, as you do when you click trash like that.... but it seemed extremely weird. They also used CSS to move most the page content above the page and essentially make it invisible... did not investigate the soruce code, but clearly something extremely shady was going on there.
[edited by: Webweeb at 1:38 pm (utc) on Jun 12, 2020]