Is it Possible to get Traffic Without Rankings?

Have you ever seen a top ranked site on the Google SERPs which seemed totally out of place? I mean, it probably looks bad — it’s extremely static with poor navigation links and "decidedly fuggly." And yet it’s the top site, and has been for years, for a very competitive key word which bigger and better funded sites rank fourth and fifth for (since our ugly site takes not only the top ranking, but the second and third ones as well).
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