I'm guilty of this.
Although the term "web 2.0" doesn't refer to the design style of a website (generally speaking when the term is used it refers to the backend coding of a site or what the site does) you can't deny that most web 2.0 websites have a certain design style. When designers use this term in sales threads they have normally tried to achieve this new design style.
More on web 2.0 design styles. -
http://www.webdesignfromscratch.com/current-style.cfm
Regardless what anyone says, there is a market for this kind of work and you're missing out on making some serious money if you disregard it all together.