(Yes, the title is obviously hyperbole. See comments below.)
In this comment, Shog9 confirms that all links from meta sites to outside the Stack Exchange network are marked with
rel=nofollow, causing them to pass no pagerank to the target sites.
Yes, that includes even these external links in our highest-scoring post, FAQ for Stack Exchange sites:
Actually, the first one of those isn't nofollowed, since it points to blog.stackoverflow.com and is therefore exempt. But, even though we rate those pages as valuable enough to list them in our FAQ index, not one single drop of "link juice" is passed to them from anywhere on MSE. Surely the authors of those pages — which include ESR and our very own Jon Skeet — deserve better treatment than that?
The mission of Stack Exchange is supposed to be about "making the Internet a better place". We're not doing that when we tell Google and other search engines to ignore links to sites which our community — including the meta community — clearly considers to be useful resources.
I hereby propose that the "logic that removes nofollow" from certain posts considered to be sufficiently reliable be also applied on MSE and the per-site metas. I'm OK with setting a higher threshold for nofollow removal on meta sites, if the SE staff feel it's needed, but "higher" should not mean "impossible".