There is a lot of talk about empowering the common person through the Internet. I don't think that this is the big deal of the Internet or Web 2.0 or any other such things. The BIG DEAL is that we can now use the inherent habits of people--communication, gossip, and social hierarchies--to organize and sort data, build content, and dynamically expand the possibilities for advancement.
I mean that Digg and Craigslist and StumbleUpon and other sites offer a way to organize vast amounts of data through things that humans like to do already. Some are Web 2.0 applications--whatever the hell that is!--and others are just simple rating services. No matter what they are the next killer app is data coherence and content creation.