My boss/client is not going to pay me to add REST interfaces and metadata that has only vague hypothetical future usefulness but he might pay me to build the data layer for the application in a way that just happens to also be somewhat open, especially if doing so makes the application better or easier to build.
To meet that requirement, the universal ontology stuff might have to be sacrificed but just having API access to more web apps, even if they are all proprietary, would be a worthwhile compromise.
Based on the video alone, I thought that was what TBL was proposing but I see from the links that he's still pushing the whole RDF rigamarole. That might catch on among a few large informational projects but the web at large is either going to ignore it or make a mess out of it.