Blogs are Time based, personal, and have an inside view. Mostly updation of Blogs is done frequently. It intends to get your message across in a personal manner. It is possible that they can generate traffic in absence of search engines, However if search engines are present then they can generate more traffic.
Blog Optimization, are very useful for optimization of web site. No doubt that most of blogs are search engine friendly.
Why we bother about blogs? Many reasons as follows can be pointed out for doing so...
1. Generally, we do Blog Optimization to increase the rankings not only for search engines but also for RSS search engines.
2. To increase targeted traffic to the blog from Yahoo, My Web and Google Search.
You can consider a blog as a site that uses a content management system to apply SEO tactics.
Another thing is that Blog optimization is also as effective and important as the content.