Well the problem there is that context is pretty hard to define.
Whose stats do you believe, for starters... The logfiles seem to indicate about 30-50K hits per day on Apache. About 10-15 percent of those are actual page loads; the rest are image loads, script loads, etc. for some other sites. So, say, 5K page loads, or one every 17 seconds or so. By that estimate, one page load is responsible for about 24K DB queries. That seems pretty excessive to me.
Even given that other resources hit the database (ad server, serving some IFrames to other sites), it seems a tad ridiculous.