What is Library 2.0?

We've heard of Web 2.0 and are pretty aware that it is a more interactive Internet that encourages social networking. But what is Library 2.0? Many definitions have been provided, but one in particular I found to be quite point-blank:

Library 2.0 describes a subset of library services designed to meet user needs caused by the direct and peripheral effects of Web 2.0.

This definition is given by a recent graduate from UNC-Chapel Hill, Michael Habib, in his master's thesis paper Academic Library 2.0: Development and Application (yes, it is geared towards academic libraries, but hey, it's a good definition in my opinion).

Just a nice techie definition for everyone to enjoy and disseminate.