Debunked... how? Can you link to this "debunking"?

>they do have reserves because in case something really bad happens (eg. people stop donating), they don’t want to go down instantly. I really don’t see how having a few years worth of reserves a bad thing - people really held open-source/non-profit companies to impossible standards.

This was addressed in the article.

>The WMF’s financial independence is clearly not at any risk. So what is going on? The official answer is that the WMF thinks you can never have too much money put aside for a rainy day. The WMF also has high-flying, global plans to “become the essential infrastructure of the ecosystem of free knowledge” by 2030. It says it wants to create “knowledge equity”—a world where people everywhere will have as much access to information in their own language as a first-world citizen—and that this will require continuous budget increases. In all of these endeavors, it is aided by the discovery that it has a money tap in Wikipedia, built through the work of volunteers, that it can open whenever it pleases.

The article isn't just decrying wikimedia building a massive reserve, it's decrying them massively expanding their scope.

https://www.dailydot.com/debug/wikipedia-endownemnt-fundrais...

Or the still salient https://en.wikipedia.org/wiki/WP:CANCER