Google Bombing and Choice between Inbound Links and Keyword Optimization

The complexity of search engines like google gets confirmed with the diverse suggestions given by SEO specialists and the search results themselves. The gap between theory and practice gets widened as we see that "keyword optimization" is not everything....after all. The answer lies in having as many inbound links as possible and..let's face it...nobody can deny the rationale behind a higher rank for a larger number of inbound links with proper tags to follow suit. Google's algorithm is perfectly done and the search results only reflect the complexity of the whole exercise...and google is where it is....at No 1. Can the search engine be blamed for "google bombing" and what can the search engine do about it ? Can the No. 1 search engine do anything in the first place ? These questions crop up when a seemingly harmless search for "miserable failure" in the search engine gives an output which you or I won't ever imagine will find a No 1 position at the No 1 search engine. The result: http://www.whitehouse.gov/president/gwbbio.html When you point your browser to this page, it will lead to the United States President, George Bush's biography and I presume that this webpage is obviously not "keyword optimized" for "miserable failure". This is the result of google bombing and at the same time, it is the result of a large number of inbound links to this webpage with "miserable failure" as the subject tag. Let's look at it both ways. The No 1 search engine obviously has sound logic as is evident from the fact that a large number of websites link to a particular webpage only if it is popular. It is a different matter that popularity can sometimes fall flat on the face as is refelected in this example. The second way we can look at the validity of large number of inbound links is that the search results may not be what one expects..... after all. Can somebody do anything about it ? Is it possible to differentiate between "positive popularity" and "negative popularity" in terms of search engine rankings ? Can a group of web users or a small community target a website with "negative keywords" ? Can a well-knit community shape the rankings of a website ? Is a sound linking strategy the holy grail for higher search engine rankings ? Has "keyword optimization" run it's course ? Will the search engines alter their algorithm to reflect "positive keywords" and "negative keywords" ? These are the million dollar questions ...and we are waiting for the answers...Mr. Google or should we ask the SEO experts for the answers ?