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Pagerank was great when it was new because it had never been used before. Once Google got popular enough to be worth gaming, it became an example of Goodhart's Law.

https://en.wikipedia.org/wiki/Goodhart%27s_law

Maybe it’s time to bring back curated web directories like the original Yahoo?

Yeah, I think so.

Curation-as-a-service could even become a viable market. It's arguably already happening to a certain extent through various platforms, creators, and aggregators; but it's not really split off as its own service yet.

Pagerank could be gamed too. Buy expired domain with high pagerank, establish a forwarder to your domain and your domain inherited the pagerank.

I thought that lapsed domains got their pagerank reset (or significantly reduced). Is that not the case?