Yep. My first job in tech was with a platform that promised a "Web 2.0" experience that was centered around drag-and-drop. Take a wild guess as to whether they're still around...
Web 2.0, as I understand it, was about increasing interactivity so websites aren't all static, which has the possibility of being beneficial to end users. Web 3.0, as I understand it, is crypto-nonsense.
Not the technology itself, that was great, and was already named.
When Web 2.0 arrived as a buzzword the web was already an interactive, dynamic platform with databases, server and client side scripting, user generated content and social networking. All of the technologies involved were in fairly widespread use.
For a minute the term Web 2.0 might have been a way to recognize how cool the natural evolution of the web was, but it was quickly co-opted for use as cutting edge sounding investor bait. Same general principle as Web 3.0, but with useful technology.
Side note: The Web 2.0 hype was mostly a 2000's thing.
The problem is that the solution to centralization is to stop centralizing, which the new approach doesn't seem to do. Perhaps there is a way to have our cake and eat it too?