Well linkbait or web 2.0 however you say it, its the same.
Heres a fun image by seomoz on web 2.0, showing just how confused people are of it.

Ok so lets drill this down then, web 2.0 is like sugar coating linkbait and now lets see what link bait is.
LinkBait
LinkBait is interactivity in content, things that give out people a reason to link back to the site, photobucket is a HUGE example of this, you upload photos and it gives you links on their site/server and you link to it that way then on sites/blogs/myspace..etc
Now not everyone wants to be an image host so this got more interactive and taken to the next step when youtube came out, the only thing it accomplished was even a greater strain on bandwidth, what webmasters want is easier ways to successfully perform this whole web 2.0 issue, another example of linkbait is pagerank sites that process your site’s pagerank and then give you buttons and what not, for example im gonna use SEOmoz’s Pagestrength here..
There i linked to their site using their image on my blog, this means they got some link love from me, images/content being served from your site onto others is always considered as high quality backlinks, why else do you think there are so many imagehosts/myspace layouts sites ay?
The trick is to make something soo addictive and soo interesting that people just cant help but linking to it.
There ya have it my seo tip for the day.
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