The Netscape Browser was the best browser on the web for quite some time.
 Last good version
The last version of the Netscape Browser worth mentioning is Netscape 4.77.
It pretty much went downhill from there.
 Current version
The "current" version of Netscape is basically Mozilla with some added-on AOL junk.
 Upcoming versions
Netscape is supposedly "working" on Netscape Browser v9. This version will be based on the crappy Mozilla Firefox 2 (Bon Echo) browser from the Mozilla Corporation (v1.5.x is the latest version of Firefox that's not full of spyware, slow as sirrup and CPU-hugging).
Netscape hype  is that this version will be available for linux, mac and windows. Like Firefox 2.0 is.
The obvious question is:
Why would they do this?
There are a number of alright browsers based on Gecko (The Mozilla rendering engine) today, and all of these are open source. So, when Netscape tells us they are going to come up with something "new", which is based on a existing browser, which so far appears to be just a re-brand, then good people should start asking questions like "Who benefits?". It sure won't be web users, so it has to be someone else. Who, then? Netscape. They probably want more users to visit their half-baked farse of a "news service" at Netscape.com, and the likely reason for making this FF 2.0 rebranded "new" browser is probably just an attempt to put bookmarks to their site and a search-button for their site into people's web-browsers.