The semantic web. It spawned an entire generation of academic study, but aside from assuring job security for researchers hasn't amounted to anything beyond their ivory towers.
Beyond some very nice pieces of software created by clever SW developpers (let's mention DBPedia Spotlight, RelFinder, Semantic MediaWiki, N3.js) I mostly agree with your argument.
To be the devil's advocate, in my opinion, data lakes are just a new buzzword that will eventually become what the Semantic Web was supposed to be. With some millions dollars, companies will aggregate and interlink their datasets. There are then one step away from extracting their master data from their data lake & publish it as Linked Corporate Data. From that, the public part of will be published as Linked Open Data.