Revenue from traffic is much more important then traffic itself. Some call it traffic quality. I have some domains (adult affs, will not discuss names) with only 200-300* UV/month, but they usually makes about $100 per month - highly targeted & converting traffic.
Then again, I have a .TV domain (with similar adult aff programs) with nice taffic (sometimes 15000-20000* per month) and almost no revenue (very low, considering the traffic).
* Above examples are natural traffic only, max. 2 or 3 backlinks per site, no traffic exchange.