The problem is that PageRank puts you in a mindset of creating sophisticated algorithms that are much more resistant to spam than naive approaches. In that sense, it discourages people from even trying out social apps.
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I don't see many people being discouraged to make social apps. A lot of the internet is based on social interaction (forums, comments, reviews, chats..) and wherever there is spam there are anti spam-measure in place that work reasonably well since these apps are all pretty usable. Maybe I just don't get what you mean