Those were the days of Altavista, Hotbot, Lycos and a host of search engines that would regularly return results of dodgy, random websites. It's not that there wasn't good content on the web, it's just that we couldn't find it very easily.
Google, with its lauded PageRank algorithm, was able to mine the beautiful diamonds in a very rough rough, mercifully elevating them to front pages of search results. Suddenly, when we searched, we found the good stuff. The bad stuff didn't disappear, it was relegated to its justified position in the content hierarchy: Obscurity. It's why Google suddenly emerged as the undisputed king of search and, all around it, rivals crumbled.
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