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> It is Google's fault that their pagerank algorithm isn't sophisticated enough to handle understanding that internet domain ownership isn't static

Nothing about their algorithm cares about domain ownership -- and why should it? Ownership can be gamed. If your domain has a bad reputation other reputation based services like SiteAdvisor are going to affect your domain as well.

Spammers are certainly able to have the whois data on a domain changed. It's simply a catch 22 for Google.

PageRank is smoke and mirrors. Usage data, sampled either from Google Analytics or the Chrome browser, is orders of magnitude more useful.

Then you have sites returning 404s to Google spiders for illegitimate links once they've expired their use.