The Browser Milestone
The older Web 2.0 label fits the AJAX shift: pages could update without full document reloads, and browser applications could begin to feel interactive rather than purely document-driven.
The next practical shift was the structured client application: Node.js-era tooling, Backbone/Marionette, Flux-style application state, local navigation, WebSockets, localStorage, HTML5, and CSS3. Those pieces made the browser a durable application runtime, not only a request/response document viewer.
The Naming Problem
The later blockchain use of "web3" overloaded a term that could already describe a browser-platform generation. The objection is not that decentralized systems are uninteresting. The objection is that naming should not erase the platform work that already changed the web's execution model.
For builders, the useful distinction is concrete: what state lives locally, what updates in real time, what can navigate without server round trips, what persists across sessions, and what protocols actually move data between peers or servers.