Web 2.0 IS nothing but jibberish
All it signifies is the modernization of web in general.

"harnessing collective intelligence" is a nice fad, if applied correctly it could really make a site worth-while.
But both web 1.0 and 2.0 is/was prone to abuse. Google 1.0 had problems with web-page makers abusing meta-data. Google 2.0 has problems when peers abuse their click-ranking system. For an example, search "failure" =P

Web 3.0 might harness really powerful AI to improve web usibility, or whatever.
Either way, I won't be impressed until they do an overhaul of the net. The net was never designed to be used the way its used now. An anti-hacking/virus layer to the new net would be nice :)