There are things happening out there which are interesting and/or hype. Well, they are mainly interesting because they are so hype-ish.
It seems this hyped web2.0 thing can simply be defined as Open Source (as in the original definition) applied to http. Open, transparent, freedom, etc. Basically its the webheads finally getting it. However, you can tell when a concept/meme is in a downward spiral of hype and misuse when CEO’s start attending conferences.
edit: fixed links