Yes, most of the problem with the semantic web is that you end up with having to agree on how to describe the world: what are the concepts, and how they are related. This kind of work on semantic networks has been done for a while in computational linguistics for natural language processing, but it's very tedious. For instance users of the Minitel in France in the 80s could lookup vets by querying the yellow pages directory with sentences such as "my dog is sick". Nice tech, but not that useful and not very discoverable either.

LLMs promise to just discover all these relations between concepts for you and do the right thing instead. Sometimes it works, sometimes not...