The issue is that the organization and spending have grown, but the mission hasn't, and they're not obviously doing better or more than they were a decade ago, except for a list of failed projects like Knowledge Engine that appear to be badly managed internal efforts that had little hope of succeeding.

And all this is against a backdrop of continuing to present themselves as a scrappy do-gooder surviving on fundraising and volunteer efforts.

The threat Macon identifies is that the bottom will drop out of the exponential growth in revenue and spending, leaving them no option but to sell out to Google, Facebook, or another party that will simply buy and monetize them, destroying the basic value that Wikipedia does still offer.

I don't know how worried to be, but I was genuinely shocked to find out how much money they take in and how many staff they have, without fundamentally being much different than I remember from a decade ago.