We can store terabytes of information for a nominal cost.
Absolutely. And in addition to this, what made the internet extraordinarily transformative, even more so than the cheap transfer of data, is the fact that its completely borderless. I live in Saudi Arabia, and you are probably reading this comment somewhere in the US. Its incredible, and I hope this next iteration of the web comes sooner rather than later.
It is incredible when you think about it. We have a global network of activity that is seen basically without cost. With Web 2.0, it is controlled as it is permissioned. Web 3.0 changes this, removing another layer of friction.