Panda have releases many updates , latest update that i read is panda 3.9 . All updates main concern is content over web resources . A Web page not able to mark its Position within Google top search results if having Crappy or low Quality Content . Even those web pages may get penalized by filter . So from my point of view Content is not only king but also queen for web pages .For more about Content importance visit Is Content King in SEO too? blog post .