Yes and no. Too many people are trying to equate the definition of Web 2.0 to a particular technology or grouping. In that respect, Web 2.0 isn’t real. AJAX, web services, etc have been around for sometime.
What is different is the number of public exposures being announced; Google, Amazon, etc, coupled with the understanding of reconstitution. Web 2.0 is a bit like object oriented programming taken to a global scale. The network becomes this living, breathing entity where people can pull bits of information, combine that information with processing services and gain the desired result. In this respect Web 2.0 is real, and we are just beginning to see the tip of the iceberg.
As programmers and other architecturally adept people begin to explore the reconstitution and presentation of these bits of information and services, we will see a plethoria of requests happen. In fact, I believe the real power behind Web 2.0 is the ability to get the information you want, in the manner you want, when you want it.
So in closing, Web 2.0 is real, but should not be focused on particular technologies. Web 2.0 is a philosophy that is just now happening because we have reached some sort of threshold, or tipping point.
Thank you Google maps for generating that tipping point.

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