I dont quite know yet, but I see glimpses of it. It is a medium that you are either a part of it or not. the initiation is participation.
For example, please watch the clip of iJustine. She is a phenom, and doesnt have really any sale-able product except for her persona. I have watched her with interest grow in popularity. While she has yet to monetize her following. . .not unlike Twitter. . .she has massive pull.
Video/UTube/Viddler/Vimeo. . . is something that we all must adopt as a marketing medium to survive and thrive in Web 3.0.
Will you step up and be a part of Web 3.0?