As a general indicator of "traction", I don't mind the use of traffic estimates per se.
But for comparing AU sites, these numbers are near enough to useless, because they measure "global" traffic (in practice mainly USA traffic), and make no allowance for AU-specific traffic patterns.
Our site (yet to be properly launched) has an Alexa rank higher than Docoloco and a Compete rank higher than OzBargain. I know for a fact our actual traffic is much lower than these sites, and it's the relatively small volume of USA traffic we've been getting that has skewed the stats.
But for comparing AU sites, these numbers are near enough to useless, because they measure "global" traffic (in practice mainly USA traffic), and make no allowance for AU-specific traffic patterns.
Our site (yet to be properly launched) has an Alexa rank higher than Docoloco and a Compete rank higher than OzBargain. I know for a fact our actual traffic is much lower than these sites, and it's the relatively small volume of USA traffic we've been getting that has skewed the stats.