No. This is a lie. Let's compare their original email [0] to their apology. While we're at it, let's look at their logical fallacies.

  For example, compare Rap Genius’ (RG's) annotated edition of Justin Bieber's new hit single "Heartbreaker" – which dozens of Bieber fans have annotated with details of his break up with Selena Gomez – to AZLyrics’ version of the same

This is a false clause [1]. Nobody is doubting RG's content is superior. If anything, better content would be a reason not to engage in blackhat SEO.

  Excessive link exchanges ("Link to me and I'll link to you") or partner pages exclusively for the sake of cross-linking

  We don’t do this.

  That is, links shared on Twitter may give temporary traffic to fan sites, but not long-term link juice.

Yet, in your email to bloggers, you promised to

  get you MASSIVE traffic

Well which one is it, temporary traffic or massive traffic? This is a direct contradiction.

  With limited tools (Open Site Explorer), we found some suspicious backlinks to some of our competitors:

Again, lyrics sites or shady. They also don't raise VC money from Andreessen Horowitz. You'll be held to a higher standard, and rightfully so, if you're truly hoping to become more than a lyrics site. This is bandwagon fallacy [2].

[0]- http://jmarbach.com/rapgenius-growth-hack-exposed

[1]- https://yourlogicalfallacyis.com/false-cause

[2]- https://yourlogicalfallacyis.com/bandwagon