Caveat Emptor: I am less than 24 hours old on Indiblog. All comments emanating from this direction should be treated with the right balance of caution and acuity.
Having said the above, it is not that complicated, "it" being how Indirank should be calculated. Some thoughts below-
There are three parties impacted by Indirank -
1. The blogger - Some folks on here seem to equate Indirank with their savings account. Even to those without self esteem issues, Indirank is a useful indicator of a blogger's "standing" in the Indiblogger community. "The better the rank, the better must be your contribution" is debatable, but for lack of other metrics, let's agree that a good ranking is generally desired by a blogger
2. The blog reader - Assuming the blogger chooses to 'advertise' her Indirank outside the confines of Indiblogger, the readers from the big, bad world out there have some way of telling that they are viewing a quality product (something that has gone through the wringer somewhere else, assuming it truly has)
3. Indiblogger -If the Indiblogger team is doing this for purely altruistic reasons, then we can leave this one out. But we all know that there is no such thing as a free lunch (or a free breakfast or chai). Hence I think we can safely assume that Indirank is the carrot that Indiblogger team would like to use to promote certain types of behavior on the community.
Note: There seem to be no parties registered on Indiblogger in the category of "pure reader". One needs to register a blog to join the community. So, I think it is reasonable to assume that each Indiblogger is a blogger first and then a reader. There is a reason I bring this up - which is that - popularity of a post among fellow bloggers does not always mirror popularity among those out there (in the aforementioned big bad world) who are pure readers and love to read for the sake of reading. It is often said that writers make poor readers.
Coming to the questions asked by Renie -
Apologies that this response has turned out much too longer than I expected. So I went ahead and created a full post on my blog at
http://laughinggasblog.blogspot.com/2011/01/laughing-gas-thoughts-on-indirank-or.html
please do read it in entirety before commenting. Folks, this is not some devious attempt to get you guys to visit my blog (which you will have to, to read the rest of it). I have shared thoughts in the post, and hope this will spark some more discussion around this. cheers!
ps: if junta believes that providing a link to my blog is not on the straight and narrow, happy to take this down and post the entire 800+ word article on here.