A lot of buzzing going on with that phrase Web2.0. It's a fine phrase. It's like Ajax, easier to say than XMLHTTPRequest Object and it provides some context for a conversation. But like Ajax, it's the same story as before: people like to get excited about new things, even if those new things are just the same old things synthesized or standardized in a new way.
Whatever you want to call it, whatever you think it means, I know one thing: the people who actually build stuff win this round. I could not be happier for Andy, Leonard, and Gordon. The right people got the right reward for doing it the way it's supposed to be done.
When I lived in LA we used to meet up once a week for a "geek dinner" where we'd get a chance to talk about web topics, ideas for apps, or see what cool gadget Leonard just got from Asia that we wouldn't see in our stores for 5 years.
Andy's original idea for our "geek dinners" was based around the famous Pho mailing-list meetings that would happen in Berkeley. His work on Upcoming back then, I think, was prompted by the idea of our dinnners, and how others would want to meet up in a similar way. We always had a problem choosing where to eat, and we'd invariably end up at the noodle place followed by boba.
While Upcoming evolved into something almost entirely different, it's a clear example of how things should work. You need something. You build it for yourself, you build it for others. You share it, refine it, and get rewarded for it.
That's every version of Web in my book.