The term used to refer to the corrupt corporatized internet used till the 2020s before its "death" at the hands of the general global revolt against all forms of socio-economic, religious and political corruption. The internet increasingly came to be seen as a tool of government indoctrination, increasingly distrusted. Rebel techs began experimenting with peer-to-peer technologies to create a decentralized system of information exchange over large regions.
Eventually these competing internet systems were synched up into a single collective-managed standard known as the Alternet. Once the stateless Alternet system went global, a new politico-economy was forged to effect DIRECT DEMOCRACY.
This finally abolished the oppressive one-metric capitalist and socialist systems of old, both of which benefited only an unseen global elite. It also did away with the ineffectual political system that employed middlemen know as "politicians" to represent people only indirectly. It was by this point then that sociopathy could finally be isolated and treated early instead of allowing the few to cause mass suffering on the many. The purging of this large-scale corruption finally cultivated massive innovation in ecological management which if left unchecked would have ruined the planet's ability to support most forms of life including our own.
The term also alludes to the global holocaust of the poor during the height of the system, at its downfall and during the societal chaos that ensued.
I can't believe people in the turn of the century put so much blind trust in the Deadnet in the days of corporatism. How did it get so bad? I'm glad we made it.