Google's John Mueller spelled it out in a single post on Twitter that there is no one single recipe for success for when it comes to ranking in Google search.
Here is the tweet:
In short, since Wikipedia ranks so well in Google, an SEO said should we copy their efforts. John basically responded that every site is different, every niche is different, Google uses hundreds of ranking factors - so following one site might not be the best bet for your own success.
I believe this is overall very true in the SEO world - what may work for one site might not work for another.
Forum discussion at Twitter.