The WMF's assets increased by $20,000,000 over the last year, up to reserves of now $90,000,000.
I'm not in a position to judge the effectiveness of their spending, but this completely antiquated paragraph about the waterfall model of software engineering makes me doubt the author's judgement.
No, you are missing the point. I did not imply that Waterfall if better than Agile (I have managed several Agile projects and really like it when it is done correctly). What my point is is that the WMF is failing to do things that Agile requires -- things that have been around so long that Waterfall required them. Nothing about Agile allows you to build software in secret with no input from the people who will be expected to use it and then throw it over the wall.
It would again stress that this is not the fault of the developers. Their management forbids them from talking to the ordinary Wikipedia editors who will use the software.