The reason Web 2.0 has been such a successful marketing venue is that it had been an untapped resource. As long as the blog sites, the forums and so on had few or no marketers, they enjoyed a top place on the search engine rankings.
After a Web 2.0 site got saturated with marketers, it began to lose popularity among users, and so began slipping in the rankings. The users leave in favor of newer blogs which aren't as yet rife with spammers. These sites usurp the previous sites in the search engine rankings.
This process goes on and on, with Web 2.0 sites enacting new anti-marketing policies to draw back new members, new sites coming up that offer a spam-free environment and so on. But this is not where the rumor of Web 2.0's fall from grace really comes from.
What they say is actually going to happen is that the search engines are simply going to stop giving link weight to Web 2.0 properties. Links from blogs and such simply won't count. It's probably not going to work out that way, and even so, there are ways around that.
First of all, I only have to reference the proverbial workhorse of website promotion: Article writing. It has been around forever, it has had its day of high favor with the search engines, but it hasn't gone away. It still gets respectable ranking. In all likelihood, Web 2.0 links will probably be the same way.
If this happens, it's easy enough to beef up the weight of a Web 2.0 link. All you have to do is to get back links from other Web sites. You can do this with Social Media links, by joining a network hub, or the standard practice of asking Web masters for back links. Your Web 2.0 links will regain some, if not all, of their lost link strength.
Secondly, let's assume that Web 2.0 properties won't allow the linking to a Web site option. Again, that can be circumvented, since it would not be in their best interest to disallow HTML in posts and comments. Too many users enjoy the ability to link to YouTube, news sites and other Web pages in general. You would still be able to take advantage of blog posts and comments for linking opportunities.
In the end, it's easy to see that Web 2.0 will still continue to be a valuable resource for search engine optimization. It may lose some of its punch, but there are ways around that. We just have to adjust our thinking to the changing climate.
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