If we had legal deposit web archiving institutions, then academics, and others, could create an archive snapshot of some resource and then reference the URI to that (either with or without the original URI), so as to ensure permanence.
I agree that this is what should be done more often for durable content. This is another reason why social media sites are bad: the users technically have automatic copyright to their contributions, but they often also agree to grant licenses to the content website for things like their photos. The US Copyright Office is releasing a new application format intended for blog posts and other short form content that will hopefully be more straightforward to use.
While this is true in general, I am amused that this is not true for citing wikipedia. Wikipedia can be trusted to remain online for many more years to come. And it has a built-in wayback machine in the form of Revision History.
Good quality information on wikipedia often refers back to published sources, and at the very least an author should check that source and refer to it, rather than wikipedia itself.
The page can be completely correct and accurate, but if you cannot trace the references then it cannot be verified and you cannot make the claims in a new work as a result. The whole point of references is to make it so that the claims can be independently verified. Even when there isn't a link rot problem you will often find junk references that cannot be verified.
Wikipedia isn't a bad starting point and sometimes you can find good references. But it is not anywhere close to reliable: just trace the references in the next 20 Wiki articles you read and your faith will be shaken.
Anyone doing research just got screwed.
So many papers have code listed to places that don’t exist anymore.