You were spot on 6 months ago... Visionary, should be a millionaire by now
If before EMDs had BIG SEO advantage over non-EMDs right now it is the opposite, EMD is a disadvantage but it is possible to overcome..
I own many EMD domains and 95% of them lost their rankings.. Overall, I would say that most of them can be considered to be low quality in comparison with some other sites, BUT some websites were really good and were loved by many. For example I have a website with 2k of monthly returning visitors (I guess the site is not that crappy afterall, huh) that got hurt by this update.
Even though my revenues decreased 5 times I think that this update was good for the industry in general. EMDs based websites had the upper hand for way too long.