Want some pure myth busting from Google? Well, here it is. Google's official Google Webmaster Twitter account said "traffic to a website isn't a ranking factor." This is in response to an SEO asking if it is.

This is a super popular myth within the novice SEO world and beyond.

Hi Suhas! No, traffic to a website isn't a ranking factor. If you're starting to get relevant traffic & users love your site, that's a good start though! — Google Webmasters (@googlewmc) August 26, 2019

Truth is, I don't think I ever directly covered this question. We talked about web site behavioral signals and traffic throttling theories, but not directly this - which surprises me.

Forum discussion at Twitter.