1. The best spots are already taken.
2. There is a fierce competition for the best converting keywords.
3. You have to work hard and to employ multiple tactics to get the first spot, which nobody can guarantee you’ll get to, anyway.
4. Once you got there, there’s no guarantee for how long you will be allowed to stay.
5. The algorithm which makes the choices remains unknown. The only visible parts are its sudden changes (and their results).
6. If you try too hard to optimize, you’ll get banned.
7. If you duplicate, you’ll get banned.
8. If you cloak, you’ll get banned.
9. You can leave your hat on (however, if it’s black, you may get banned).
10. A bigger PR does not necessarily translate into a better SERP position.
What else can SEO be like? Give me your thoughts, please… and leave your hat on 😉