What is magic Web3?

Could you please elaborate on the concept of 'magic Web3'? I'm intrigued by the term and would love to understand its significance in the realm of cryptocurrency and finance. How does it differ from its predecessors, Web1 and Web2? What unique features or benefits does it offer that sets it apart? Is it a revolutionary advancement, or merely a buzzword in the industry? I'm eager to gain a deeper insight into this mysterious yet intriguing concept.