I've been in business six years, and have less than three reviews at different sites (and no testimonial page - I know how many people pad or outright fake those, so neither Scribehost nor The Living Media has a testimonials page.)
Having lots of reviews just means that they have placed a premium on getting their customers to review them. Having no or few reviews may mean that they haven't had many customers...or that they don't actively solicit their customers to review them. I personally have looked at reviews for various products/services in the initial selection process, but used them like "tiebreakers" - if two products or services seem equally good and I can't decide between them, the product which has more positive, non-perfunctory-sounding reviews may get my business.
I've freelanced for companies that spoke of "mining Wikipedia and forums", though, so I know that social networking is no guarantee of quality. It's more talk - which may or may not be true. You've always got to consider the source.