You are absolutely right. It's detailed in week 3: Using my hubpages hubs as proof of my writing skills to write articles on high traffic websites as a "guest" post. Then sending the traffic from those pages to either a money making article on an adsense heavy site like "she told me," or being offered AdSense ads for my posts on the high traffic sites. My highest performing hubs here on HubPages have definitely been my "how to make $1,000" series, some of them receiving more than 2,000 views - however, with exception of one hub which I have recently deleted to place on my own website, 90% of all traffic on HubPages comes from HubPages itself - non converting, non paying traffic. Again, I am no SEO expert, so I basically just followed some advice I learned from Internet Marketing experts to make some quick cash by authoring articles for high performing blogs and websites.
Hope that answers your question!