@strypey
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I was around at the time, and a long-time proponent for more linked data uptake in general in IT.
I don't think saying SW was shouldered aside is a fair assessment. As hype cycles come and go as these windows where a technology must prove itself, semantic web had one of the bigger cycles. It overpromised, underdelivered. And at the same time XML got overused where it shouldn't, becoming ever more complex web of standards and de-facto. XML fell in the grasp of corporations, pushing expensive Enterprise service buses, etc. There was a craving for simplicity to create sites and basic webapps. And then along came JSON, and XML quickly fell out of favor. Along with SW, which never got a good tool and library support in the ecosystem.. and that is still true today.
Other than that SW in many areas is a solution seeking for a problem. Some areas see LD uptake. But aboveall the dev community ditched the tech. And they need much convincing to come back.