If you have a web site with lots of article-type pages, or if your site is primary to provide either news or documentation, then sometimes it makes sense to break up long content across multiple pages.
Of course, splitting an article across multiple pages also helps you serve more ads if your site is ad-funded. You can have a couple of ads on each page and force the user to click across the pages to read the whole article.
By the way, the link to page one really works.
This next set of pagination demonstrates use of a disabled link. We are on page three, and for some reason page two is disabled. Is there a good reason to show disabled links?