There are. But there are a lot fewer than there were last week.
Yes, and arguably those are "low quality" sites. I have EMD sites that are doing fine. I also have "branded" domains that are doing great, and my competition on an EMD is doing great because they have a quality site.
Yes, some sites got hit that shouldn't have. Some sites aren't hit yet that should be. My guess is Google is still tweaking this update and we'll hear more about it.
Here's the problem: Define "Low Quality". If you've ever read the leaked Quality Raters' Guides, especially the most recent one, you'll see they have a pretty broad definition of that.
Yes, the guidelines are subjective, and I think they're meant to be that way. I'm sure google is taking many more factors into consideration here than just "is it on an EMD". Bounce rate, what quality of links, where the links are coming from, is the page over-optimized? etc etc.
Google isn't the only traffic source out there, and if you're relying on google SEO for 100% of your traffic you're doing it wrong.
Splogs, built for adsense, minisites, spun content, spam sites etc shouldn't be in the SERPS. Users aren't looking for that, and a lot of them rank only because of their EMD. It sounds like google is finally doing something about it and I'm glad.
All of what I just said is a little outside the scope of a "domain name discussion". If you have an EMD with a low quality site, yes I would be worried... but in the context of "domain name discussion" then no, exact match domains are not dead.