It depends on the quality of the content, in my opinion. Ultimately magazines are 'content farms'. Various game review sites are 'content farms', since they're both designed to 'churn out' content and articles. (To give a couple of quick - albeit silly - examples). The difference is that the content in these two cases is high quality, usually containing images and possibly videos, and with lots of unique ideas and opinions given.

So I guess it depends. If a 'content farm' produces good, helpful content, then that's great and should be encouraged (even if it is done on a massive scale). But when it comes to a case like WiseGeek where content is spat out en masse, even if the content is crappy and really short, then it becomes a problem.