Both the terms content and links are incomplete with each other. But quality content matters. Links can't make their impact if you have content poor website while if your website have quality content. It will automatically have some links.
Link and content are just like the legs of your site. It needs both of it to walk an extra mile towards the ranking. without one of it, it'll take to long or to hard get to the top.
Content is most important part of SEO process. It should unique and descriptive as well as link has its own importance to get rank high your website.
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Though content is king still it has no value without link. Both are really important and much useful for SEO work.You cannot avoid anyone of them. Try to have some off page work.
Well like what the crowd said and agreed content and links are partners in crime, they both do they're job and help each other to to have a good sites in the outcome.