From a blogger’s point of view, Page Rank is only useful in one legitimate way. Search Traffic. The higher your blog is ranked, the more chances your blog has of appearing in the top pages of the Search Results, so a blogger with good SEO skills will be able to manipulate his blog to the maximum if he has a good ranking of 4 and above and get tons of Search Traffic which is vital for the survival of many sites and blogs especially those involved in marketing and affiliate sales and to a certain extent, niche blogs which runs Adsense.

Taking away their ranks will mean no more Search Traffic. Even if the blogs are still indexed, their page will be buried so deep the search results that they will never see the light of the day. Other than this legitimate reason for wanting a high rank, the page rank is just an ego boosting number to show off to your blogger friends.