Is Web 2.0 just hype?

Web 2.0 is a big term in both the computer world and, as its corollary Library 2.0, in libraries. This article from PC World, though, may be an indication that much of the buzz over 2.0 has been, well, just buzz. The whole user-producer model of letting people participate in sites has been underwhelming. Social networks haven't taken off and may be dying. Much of the concern focuses on the business model, in other words, how to turn a profit off these features from advertising. Of course, that's not so much a concern for Library 2.0. But it is interesting that some of the underlying ideals, like participation and ubiquitous connectivity, seem to be more attractive to proponents of 2.0 than to real people.