I always start with technical. It doesn't boost rankings, but it makes ranking possible. If Google can't see your content, nothing else matters. Once the blockers are fixed, then it's a content game.

This is right for Google. Worth noting the equation flips for AI search though. ChatGPT and Perplexity don't care about your crawl budget or Core Web Vitals. They cite based on brand mentions, content depth, and whether authoritative sources reference you. So you can have perfect technical SEO and still be invisible to AI-generated answers, or have a mediocre site technically but get cited because you're the known authority in your niche.

Simple rule that i follow most of the time:

Not Indexed- technical issue

Indexed but no ranking- content issue

I have the same question. But I think once you fix the technical aspect of it, the content optimization will come into the picture.