It's not necessarily indicative of being "dependent" on Google organic traffic. Even if organic search drives just 10% of your revenue, that 10% may still be big enough to warrant plenty of attention on the organic search channel. Enough to warrant paying attention to algorithm changes and versions.

I'll never disagree with the idea that you should diversify your marketing and not become dependent on a single channel, especially a channel you cannot control, but to ignore or neglect that channel when it actually matters is not a better or noble solution.

So far in my experience with the new Panda update is that it's actually correcting some sites it probably shouldn't have previously penalized in other Panda iterations.

Publishers are extremely dependent on Google. Traffic referred from Google has a much higher ad CPM than direct traffic. Mainly because transient traffic is much more likely to click on an ad to go elsewhere than your actual users.

It seems like a blog specifically about one company would by definition be dependent on it, no?