Web 2.0 Trough of Disillusionment
Gartner Research Inc has a great technique for explaining the process by which new ideas and technologies are adopted. It is called the Hype Cycle.
We seem now to be entering the 'Trough of Disillusionment' with regard to the Social Networking side of Web 2.0.
Yet, I am willing to bet that (after a 'taking of stock' and a 'back to basics' campaign) the debate will end up where it began. That Social Networking, User Generated Content, Blogs, etc, are useful web features within certain, but not all, circumstances.
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