Yes, fifteen to twenty years ago, it was used to refer to the emphasis on user-generated content and the generalization of social media.
This is happening again now with the web3 fad. A new generation of gullible idiots and sociopaths to take them for a ride.
This distinction only matters with centralized platform like AOL, Medium or Facebook though. Wikis existed long before big companies hijacked the web.
It wasn't user generated. User in this case being the visitor to a website and not its creator.