That is only true in an equilibrium. Most of the time things are not in an equilibrium and it's perfectly possible that shoddy restaurant is going to close very

That is only true in an equilibrium. Most of the time things are not in an equilibrium and it's perfectly possible that shoddy restaurant is going to close very soon or hasn't been open for a long time. Of course if you know that this restaurant was shoddy and is shoddy for years now, then it's fair to assume the food is great.