Define web3 in simple terms

Same as web2 but more hyped.

Web3 - "A technology that people are yet to make meaningful sense of."

Everyone gets to be part of it, but no one can control it. End of monopolies.

It's not what everyone thinks it is.

Democracy and less manipulation

web3 is a powerful web owned, operated and used by open communities.

You get to own a piece of the website/project.