The semantic web as I understood it was just using the right HTML tags. Most importantly, no tables for layout and using semantic names for CSS classes rather than names like "blue". This has completely failed, imo. Tables are no longer constructed with <table>, <tr> and <td> but with a combination of <div> and <span> tags with classes that are not semantic at all :(
Edit: Not sure why this got downvoted, just trying to illustrate what I thought the term meant.