Put people on pages at random, and have them click on an outgoing link at random. Then, 20% of the time, teleport them to a new, random page. What is their distribution in the long run?
The higher the number, the more likely you are to end up there. This means you have more incoming links, but they are incoming links from pages with higher rankings. Incoming links from lower ranked pages - pages with few incoming links - don't give you much "Google Juice".
I'm curious, do people really not know this? Should I write it up? It's a standard piece of linear algebra to find the eigenvector of the appropriate matrix. I thought pretty much everyone would know it.