I've ranked websites in the past with spun content, and now they are still on #1 position of google. First year (2014) google found me because my spun was really bad, many paragraphs were just copied and my position drop from #2 to around #20 after a panda update. Later I cleaned all my text with better spun (I didn't buy any article!), my ranking went up again, and with more backlinks I reached #1 and it is still there
Quality readable content is key here. Google, for example, will recognize that people are leaving your site soon after arriving if they perceive that your site or blog is full of junk content. This is called "bounce rate." If your bounce rate is high, then people are quickly leaving your site. But for the sake of your business, to build your online reputation and brand, you want people to visit your site, stay for a while, and then keep revisiting over the long term.