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Internet marketing as a whole is a very legitimate and valuable service, when it is done by real professionals who provide real value.
However, if we look specifically at search engine optimization, I tend to be more skeptical.
Most of the "SEO" provided is of little or no value. My first encounter with an SEO was very negative. The SEO charged $3,000, guaranteed top rankings, and did little more than change the page titles, meta description and meta keywords. When we actually lost rankings, I demanded that he honor his money-back guarantee. He instead stopped responding to our emails and phone calls.
Such is the SEO industry.
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