Not neccessarily – when you look at how many impressions are required to get 1 click on PPC, it’s a very low percentage usually, meaning 9[x]% of people don’t click the PPC ads anyway. It’s still a good way of getting traffic IMO, but I think it’s become a little like banner ads in the fact that you see sponsored links so often you tend to ignore all those that don’t exactly match what you want.
I also think that a lot of people wouldn’t (for example) search for “best online casinos” and then go to a sponsored result from a casino. They’d probably be looking for sites that reviewed/compare them and give an opinion before deciding. The same probably applies to a lot of people searching for “online casinos” and stuff too. What they really mean is “whats the best one…”.