That would have been my assumption about the negative impact you're thinking of but I don't think it's true, losing PR won't affect the blog's ranking because PR isn't why pages rank. This blog page currently ranks 9th for the search phrase 'google instant' and it has lots of comments (all 'follow' links too) so it will:
1. Garner a lot of incoming backlinks therebye accruing more Site Authority and PR which internal pages will benefit from that much more than they'll lose out because of the PR they didn't get, which would have been minimal without all the incoming backlinks.
2. Not get any backlinks (it hasn't got any yet) and so it's PR will never improve and it couldn't be passing much to internal pages anyway.
Either way, the comments aren't hurting the ranking of that page, they're probably helping it by making it look useful, and will either help (by acquiring backlinks) or have no impact (it has no PR to pass on anyway) on the ranking of pages that page links to.
Also, since selling links that pass SEO benefit is against Google TOS I don't think that can be considered a negative impact eithers ince they'll nerf them if they idnetify them. Plus if the blog owner was selling links he'd know that lots of links on a page dilutes the quality of outgoing links, and that his customers would know that, and he'll be controlling the number of comments on his blog keeping them to a minimum. Again, this has no impact on his other pages.
I'm not seeing any way in which comments hurt our blog owner.



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