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From my own experience, Spotify is better than going in blind but much worse than using RateYourMusic and superficial scanning of music journalism sites. I've started using Spotify the beginning of the year (Before that a mix and match of Vinyl, Bandcamp and piracy; fuelled by friends, a bit of /mu/, RYM and music journalism) and I've discovered a handful of musicians I didn't know before, but it usually just recommends me stuff I already know (and often don't care for). Conceptually I like their mix of the week playlists, but I prefer listening to whole records, so I often just skip through the playlist until I find something that sounds interesting, which isn't much better than RYM/Journalism, but without any menaningful context (so it's worse).

This is pretty much my favorite recommendation by Spotify: https://www.youtube.com/watch?v=R9982wYPPm0