I do not see how pageRank relates to the power method. Since for the pageRank we are looking for the steady stable state (vector) for a Markov (transition) matrix and the matrix has already an eigenvalue equals to one, why multiplication is used throughout the iterations to converge into that vector. Knowing that the only things that changes during the iterations are the eigenvalues with absolute value less than 1 and their corresponding "disappearing" eigenvector.
Therefore, why this not done by factoring the Markov matrix to find the eigenvector corresponds to eigenvalue 1 instead of the iterative multiplication approach?