Sure, but you don't need to index the entire internet to build PageRank; only a subset of pages that form a graph. And, it's pretty easy to break the notion of building a search engine into smaller, discrete steps-- hell, I'd imagine that it could be done by two Stanford grad students.
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What less than a search engine can you build if you've got pagerank? in fact you can't even know if pagerank works unless you have a search engine.
Sure, but you don't need to index the entire internet to build PageRank; only a subset of pages that form a graph. And, it's pretty easy to break the notion of building a search engine into smaller, discrete steps-- hell, I'd imagine that it could be done by two Stanford grad students.