This Slashdot comment sums up everything perfectly:
MySpace is not 'Web 2.0'. It's 'GeoCities 2.0' if anything.
Web 2.0 is simply another name for the use of existing technology to do things that have already been done. It is mostly a marketing term. The focus for new and better web applications should not be technology, but functionality, specifically in terms of information architecture. If it's shiny, but I cannot find what I want in a very short time, it is utterly useless and quite "Web -∞".
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