page rank has come under various abuses by some SEO experts that use black hat techniques to artificially inflate sites PR values. While having high PR serve little to the page’s actual ranking in results, artificially high PR sites can once in a while swindle a link-buying webmaster to buy links from them.
This is related to the practice of PR buying, where a webmaster buys rights from a high PR site to post a link to his site. This practice stems from the long-running belief within the SEO community that a site being linked by a high-PR site gets the PR value of that site. Hence, webmasters buy links from high-PR sites for that purpose, although with the age delay addition to the algorithm this practice has lost its effectiveness.
There has been speculation that Page Rank will be replaced by trust rank, a similar algorithm used by Google's competitor Yahoo although this has never been proven by public statements. It is also said that Google might have decided that trust rank is irrelevant. Since they are similar, Google could have concluded that its own page rank algorithm is irrelevant as well, although most people find this unlikely.
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