What is Wagmi in Web3?

Could you please elaborate on what Wagmi represents within the realm of Web3? As a term that seems to be gaining traction, I'm curious to understand its significance and how it relates to the broader decentralized web ecosystem. Is it a philosophy, a movement, or perhaps a specific technology that's driving the adoption of Web3? Additionally, how does Wagmi align with the principles of decentralization, transparency, and user empowerment that Web3 espouses?