The term web3 is so poisonous to me that I tune out whenever anyone says it. Proponents will say it's not all crypto but any other use case that falls within, I'm just left thinking either "this is what they said crypto specifically would do" or "this sounds like the stuff folks were saying the world wide web would do, in 1995."
I think the web peaked with bit torrent, and capital responded by trying to crush it, but people keep trying to introduce baroque versions of it again, but worse.