Is backlink still important for SEO?

[manish955]

People are expecting that backlink will become less important.But i don't think that is possible, though low quality backlinks or unstable backlinks have already become less important, but high quality stable backlinks are significant for search engines.
The most strong arguments that is given in support of the argument that backlinks will become unimportant in future is that after introduction of web 2.0 many sites have came out that allow common people to share anything on web, even links.And prior to it google's role was to give attention to every link, but now it cannot do so, it marks billions of link as no follow because that also disturbs its search engine, so it is breaking its own principle somehow.so google will have to find some other method.