How 5-year Wikipedia hoax fooled even the subject's own company
ken-jennings.com
ken-jennings.com
Don't think this is new. For all of history there have been pervaders of disinformation. The only difference now is the media with which it is distributed.
Here's the horrible truth: no other encyclopedia is any more accurate. However, if by using a "professionally edited" encyclopedia you are lulled into a false sense of trust then you are at a disadvantage. If instead you use an encyclopedia that can be edited by anyone and everyone on the internet, perhaps you will retain your senses of judgment and critical thinking. Perhaps you will double-check "facts" that seem a little fishy.
That, ultimately, is why wikipedia is a better source of information in the long run. Any source of information compiled by any group of people will be full of biases and errors. It's infinitely more important that the public become more savvy information consumers, improving their critical thinking abilities, than that any given source of information is incrementally more "accurate" than another.
In many cases, when reading one book, even by an expert, you've gotten a much more biased view of the subject than Wikipedia, because nobody makes a name for themselves by writing a book that regurgitates the neutral consensus. A new book by a historian, for example, will frequently make controversial new claims, which may or may not end up being accepted by other historians in the long run.
Your argument relies on a couple of deep assumptions, the main one being that the general public know how Wikipedia is made.
Based on my (albeit anecdotal) evidence, I suspect that the vast majority of internet users (non-technical) may not know much at all about Wikipedia. They just look something up on the internet, find it on something that calls itself an 'encyclopedia', and believe it. They know nothing of who has created the page, or the checks (or lack thereof) that go into each page.
Search for a random subject on Google - e.g. 'Canada', and click on the first result (Wikipedia, of course). How would any user know about the methodology behind this encyclopedia? Twice on the page it refers to itself (prominently) as "The Free Encyclopedia" - to me, as a non-technical user, that might sound like a reliable (albeit free) source of information?
That seems kind of weak. If I eat at a local greasy-spoon and get sick, I'm not going to say "This is just a reminder that I know eating here makes me sick, whereas I would be taken by surprise if I got sick at a nicer restaurant."
http://en.wikipedia.org/wiki/Reliability_of_Wikipedia
See especially the section on comparative studies. There have been more studies and more recent studies than just the 2005 study quoted above.
http://en.wikipedia.org/wiki/Reliability_of_Wikipedia#Compar...
Note that the references are provided. Your assignment is to read them and correct any errors you find in the article.
In the event that a wikipedia user remains unsophisticated and does not acquire a degree of critical thinking the worst case scenario is that they are subject only to more or less the same degree of inaccuracies as any other encyclopedia. This is why wikipedia is a superior encyclopedia, because in the best cause it engenders critical thinking and in the worst case it's equivalent to just about any other source, so on average wikipedia users come out ahead.
What makes Wikipedia different than Merriam-Webster, is that you don't know (easily at least) who the author is, and thus you can't verify the purposed facts. This makes the source less scientific.
For example, I don't think an obviously made up "fact" would last very long on the page for red-black trees.
http://journal.neilgaiman.com/2010/05/one-book-one-twitter-o...
Turns out DQ did know the Wikipedia entry was false, but still liked the concept of some of the far-out claims, and wrote a script around them.
"They had no connection with the original hoaxer"
http://ken-jennings.com/blog/?p=1900"Some say... that he invented a tiny shower suited for pigeons. All we know, is he's called The Stig!"