«The Encyclopedia should be managed by a prestigious Editorial Board which appoints a hierarchy of editors to moderate articles. [...] Serving as a member of the Editorial Board could become a prestigious office for senior professionals to provide their experience and judgment»

Sounds a lot like the current peer-reviewing system and journal editors mafia. A bunch of old men with their hand on the system and doing the maximum so it does not change, for their own interest of keeping their position and dominance of the system.