I'm not surprised at the resistance and outright dismissal of and growing interest in Web 2.0.  Venture capitalist Rick Segal said he'd prefer not to see such in a pitch (and I agree), and others think the concept is a crap-laden, misleading marketing buzzword.

My take?  Use for what it's worth and don't try and make it something it's not.  Web 2.0 is a consolidated, helpful model towards shaping ideas in an age of emerging web services (the fact that web services today are still being embraced is another topic altogether).  Utilize some of the guidelines to aide in refining the structure of your ideas, the development and distribution of your software, and approach to sharing information.

It's a methodology - not a category of company.