Does the Google Page Rank Really Mean Anything, Anymore?

With the recent Google Page Rank Update, my Google PR jumped from 0 to 4. This update has been a similar treat for a few other blogs that I read often, like Net Entrepreneur (Alex) and Untwisted Vortex (RT Cunningham). However brief discussions with Will Taft (Will Taft’s Blog) over IM and some comments to my previous post about the PR update for Inspirit made me think if this PR update by Google really makes any serious sense or not?

I observed the PR for a few sites that get much more traffic than my blog, are much more popular and have much more backlinks pointing to them than my blog. Here are some statistics that I’d like you to take a look at for a moment:

Website Alexa
Traffic Rank
Page Rank
Blogging Zoom 91,019 105,000 21,296 4
Blog Engage 99,048 33,400 9,448 3
Post on Fire 111,689 14,200 2,981 4
Inspirit 167,493 800 1,067 4

With the poorest Alexa traffic rank and with the least number of Yahoo and Google backlinks out of all these websites, they stand at either the same level as me, or below!

Page Rank is the Google’s view of importance of a web page. The number of Yahoo and Google backlinks pointing to Inspirit is not even 10 % of the backlinks pointing to Blogging Zoom. Even then, is Blogging Zoom more or less of same importance as Inspirit Blog in Google’s View?

Google Page Rank means anything,anymore?

Will had a good point about Google Page Rank system being watered down in his comment to my previous post. “Another Pointless Blog” in my blog-roll has only 3 posts in the last 3 months, two out of which are guest posts by me! Still that blog has managed to get a PR 2 status.

I was quite excited about getting a good Page Rank for my blog and hope to get some more search engine traffic from this. But do you think seeing all this happen, anyone will take this PR update or the whole Page Rank thing itself, seriously? I highly doubt it.