Gary Illyes (a Senior Engineer on the Google Search team) said at a conference in September 2023 that the links pointing at your website were no longer a top 3 ranking factor on Google (which was a shock to many in the SEO industry - well it was to me at least).
In 2016, Andrey Lipattsev, another Google engineer, had previously said the following were the top three Google Search ranking factors (in no specified order of importance):
1. links pointing at a website / webpage
2. webpage / website's content
3. RankBrain: how Google interprets what you are searching for e.g. Turkey (bird) or Turkey (country)?
So if we are to believe what Google are saying links are no longer a top 3 ranking factor (many in the industry do not): what are the top 3 now in 2025? How about the following (in no specified order of importance):
1. RankBrain
2. Helpful & Authoritative Content - primarily relevant content
3. Local Relevance of content / business - by location stated in search query and / or detected location of device that the search has been done on (to provide locally relevant results) e.g. the results for "employment solicitors" are very different in Glasgow, UK to London, UK on GOOG . Another example: there is a difference between search results from London, UK for the search "employment solicitors london" and "employment solicitors" . This means to see your true rankings you need a tool able to run reports at a local, not national level (e.g. with a specified location of London, UK not simply UK). Google Search Console data only offers aggregated search visibility data at the national level.
This might leave factors 4 and 5 as follows (in no specified order of importance):
4. Links
5. Device type that the search has been done on e.g. smartphone (with implications for a local focus & intent in search - possibly more if device is in transit) - Google Map listings may be displayed more frequently in mobile SERPs for searches with (implied) local focus or intent .
I must say that from the regular competitor and market analyses I do that I still believe the links pointing at your site remain a Top 3 Ranking Factor on GOOG...