I mean, to your point, why in the world would anyone use a ‘hot wallet’ or any wallet with anything valuable in it for this purpose. You wouldn’t. You would make a dedicated wallet for signing Wikipedia transactions.
Then why does it need to be linked to the Ethereum blockchain -- or, indeed, to any blockchain -- at all?
Besides, Wikipedia already has user accounts. They even have a system for users with the appropriate permissions to approve revisions of a page -- no external crypto-nonsense needed.
And then, of course, you'd apparently need to convince every Wikipedia user to get on the ETH PKI for this purpose? That does not seem like a rational choice.
Nothing about this mockup seems rational. It is entirely fake and frivolous. There's not even an explanation of the supposed benefits of this "endorsement" feature. Because it doesn't have any.
Delusions of crypto bros would be funny if they weren't so sad.
If there were 10M monthly real users, large crypto airdrops would go out to way more people. But even the big ones like Arbitrum and Optimism went out to like 500k “wallets”. Many of these were multiple wallets owned by the same people.
Daily transaction data on Etherscan shows that the most popular tokens like USDT/C are traded at most by under 100k wallets. OpenSea has like a few thousand wallets trading daily at most.
Real onchain users are not more than 1M a month, and that’s a stretch. I would put it closer to 500k real users, many of whom might have multiple addresses (I have 8).
The reason to do this is some people do indeed have Metamask (a browser extension, yuck) already installed and a wallet set up - so technically this might be an easy way to enable signing for them.
The reasons not to do this, I already detailed above. It is a neat hack, that would fare tragically when applied to the masses.
In a centralized setup, e.g. facebook and twitter, that's what they have suffered from.
In decentralized setup, however, it's possible that different reader will use different algorithm provider. If an algorithm provider uses something like PageRank/EdgeRank kind of graph-random-walk based reputation algorithm, 1000 empty wallets who doesn't have reputation will not increase any reputation of the edits they endorse.
You could, for example, apply your own ranking algorithms on top of HN, using things like karma to decide reputation.
I think you massively overestimate most users' grasp on cryptographic primitives...