As per my opinion, Link Building is the most important part of Seo that involves various techniques. Some of them work really well and gives good returns to the businesses which invests in search engine optimization. Link Building would continue to be a part of the search engine optimization as it not only helps in increasing the visibility of the site but also helps to get referral traffic. Link Building is not bad as every business wants to have their brand name visible from as many web properties as they can. But, the way we build links is definitely an issue. Link building must be done keeping in mind the user experience and the link builder must avoid creating spammy links.
Matt is right, Seo should concentrate on making their website both search engine friendly and user friendly. They must focus on having good content, better crawlability, social media promotion etc. A site must improve its quality first in order to rank higher on the search engines.
Also See:-
How to Create Backlinks That Google Loves
Backlinks
How to Rank in Google
How to Design Seo Friendly Web Page
How to Make Your Website More User Friendly
Benefits of Seo