Wikipedia also lives and dies by it's reputation. People have tried forking Wikipedia with more inclusive policies numerous times (the code base and articles are open source), and they've all ended up filled with junk.

I was involved with Wikipedia very heavily for it's first three years (not been involved for the last 5 years), and there have been periods when it went through more liberal stages of allowing a broader range of content. The policies they have now aren't something that've just been made up. They're policies that have evolved over a decade of seeing what works and what doesn't.

Non-notable articles often end up abandoned and vandalized for long period. Sure the precise criteria for notability and verifiability might be debatable, but there's absolutely no question that those criteria help make Wikipedia a reliable source of data.

Think about the reason you want something in Wikipedia (rather than just say on a Google Sites page or Mahalo, etc). You want it on Wikipedia precisely because of the reputation it has, and that reputation is in a large part down to the criteria of notability and verifiability.