I don't think it's necessarily an existential problem that the public image of Wikipedia's relevance is reaching a sort of "trough of disillusionment" due to some of its governance issues. It has simply reached a scale where it faces a new set or hurdles to overcome.
Personally, I've learned more from Wikipedia than I did in high school and college combined, and considering that, despite all of Wikipedia's problems, the content therein is more accurate and verifiable than the corrupted corpus whence our primary and secondary educations are derived, I really appreciate its existence.