But people spend insane amounts of time and effort trying to get on TechCrunch, when they could spend that time writing pitches to blogs whose owners will melt to know anyone who is reading them, or writing systems to make pillar content which will be attract qualified, interested prospects for the next decade.
And even for those few (arguably) lucky folks who make it onto Techcrunch, they might assume that if getting a big splash "gains" traffic then subsequent big splashes are needed to "sustain" it, throwing an increasing amount of resources to further pessimize their business to fit the preferences of a narrow, fickle audience who does not spend money on the stuff they have to sell.
1) they send less traffic than they did back in, say, 2006. It's only 3,000-4,000 uniques. 2) one backlink from them doesn't appear to be worth crap any more in Google. Google (as far as I can tell) looks much more at the heterogeneity of your linkbase than it does any individual link from a high PR site (maybe Wikipedia's excluded here, but I don't know).
Patrick and Peldi's advice to target 40 smaller blogs with personalized pitches (there's that interesting content thing again - interesting to an audience of one each time) is probably better than TechCrunch traffic in every single way you slice it.
Before you'd be on the front page for a while, and now you are off by the middle of the day.
Which also explains the Page Rank thing. Front page is PR8, 2nd page is PR6, 3rd page is PR4, 4th page is PR3, 5th page is unranked.
That's my experience at least.