Compare Content 2.0 to "blogging" (which is thought of by some as being part of Web 2.0). But you still have to create the content!
Blogging is merely a labor-intensive way to create time-sensitive content. As Chris Anderson, executive editor of WIRED magazine and one of the most prominent bloggers, said (in Blogging Heroes, a book published by Wiley in late 2007)...
A blog is this beast - a monkey on your back. It wants to be fed every day, but we all have jobs and it's hard to do. So I don't blog as much as I'd like.
You still have to create the content, lots of it. And Google has slammed all the low-value linking that goes on in "the blogosphere."
Blogging is for a very small percent of the population, writers with the time, inclination and skill-set to "develop a following." The great untold story of blogging is how 99+% of blogs lie dormant. Dead.
However, one way of thinking about Content 2.0 is that it turns your site into multiple blogs. The blogs are written by visitors, commented on by other visitors. And SBI! handles all the magic underneath, ensuring engines know, viral word spreads, and so forth.
It's low-maintenance blogging, to the power of 3!