Most people concerned about SEO (Search Engine Optimization) know that search engines use the links on your pages to travel the depths of your site for content. So how does a LinkButton fit into this strategy? Take a look:
<asp:LinkButton ID="lbtnAbout" runat="server" PostBackUrl="~/About.aspx">About</asp:LinkButton>
This tag renders like this:
<a id="lbtnAbout" href="javascript:WebForm_DoPostBackWithOptions(new WebForm_PostBackOptions("lbtnAbout", "", false, "", "About.aspx", false, true))">About</a>
Notice that the link is actually a JavaScript call. At most, the search engine will extract the title of the hyperlink and include it as part of the body, but it won't touch the javascript. What does this mean? It means that the link is essentially invisible to search engines. When thinking in terms of SEO this is BAD.
I won't argue that there won't ever be uses for LinkButtons (like when you need to execute server-side code on the postback), but if you're optimizing for SEO then it may make sense to just use a regular hyperlink, when possible.