Voices arguing that blogger popularity does not equate to influence lost a little more ground this week. A new ad network promises to deliver influential blogs to media buyers. My reaction is a mix of cheering and concern.

What’s up: San Francisco-based BuzzLogic has launched its BuzzLogic Ad Targeting service. Essentially, the service enables companies to identify and place ads on the most popular (linked) blogs on a given topic. The ad service is based on BuzzLogic’s social media monitoring solution for PR.

I cheer because many high-profile bloggers need more and better revenue options. Most find out the hard way that advertising revenues from Google Ads do not trend upward with any kind of reliability. Meanwhile, sponsors can be hard to find and harder to sign. Even influential bloggers like Tom Foremski speak candidly about the challenges of growing new media revenues.

I cringe because there’s been so much controversy over the impact of pay-for-play on the reputation of industry analysts. There’s a deep-rooted perception that vendor revenues taint analyst objectivity. What’s to stop the same sort of backlash from tarnishing the most popular bloggers?