Web 2.0 - On the Decline?

So this is my first post so please be patient as my thoughts develop. The purpose of this blog is to create a community eventually where small businessmen and entrepreneurs can creatively gel ideas together in a generally grey time in startups. In a recent news article, it was stated that web 2.0 ventures and their financial backings have slowed compared to last year. San Francisco is the epicenter of the 2.0 community and continues to host pop up sites. However, fundraising has steadily decreased as the phenomenon of web 2.0 has worn off, or has it? Are investors hesitant to put money into social networking sites and user-generated content? It seems to me that every web 2.0 start up is the same thing, just with a different demographic. I think that the problem here is a lack of creativity. All these different companies are fighting a war of who can buy their consumer/contributer. Investors are pouring money into a money pit where the battle of technology is taking place. Who can make their site more cleaner, user-friendly, and accessible will win the game. I ask this question now - where are those creative thinkers that can take this business model to the next level? Enough myspaces, enough youtubes, who can take it to the next step? Perhaps one of the readers of this blog will be inspired and create a new model and something that actually provides value to its users.