(1) The metric that matters, active user growth, has been declining since 2007.
(2) Right, the 1 MB of bandwidth I took up and 5 KB of storage space I consumed with userspace pages outweighs the hundreds of minor corrections I've submitted over the course of a decade. By the way, Wikipedia does have a shortage of editors relative to its popularity and potential.
(3) Deletionism destroys more information than it protects. This is easy to establish. Educate yourself.
(4) You are circularly using the status quo to justify itself without having explored alternatives and without having performed any research into the historical evolution of Wikipedia and Wikipedian culture. Again, educate yourself before posting.