the main problem he mentioned can be addressed by seeking the balance between moderation and public collaboration... IMHO they can establish some rating systems to help on this, and probably can even add more degrees of moderation. The authority of the definitions will be established over time.
The other shortcomings of the current Wikipedia are more of software design issues such as usability etc, which can be easily fixed technically.
I like Wikipedia, not only because of the fact that it's free and open to everybody, but also its "anti elitism" nature...
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