Right, but the reason that Conservapedia fizzled out is that you can't really build a critical mass of human editors if the only reason your site exists is that you have a very specific view on dinosaurs and homosexuality (even among hardline conservatives, most will not share your views).
What's different with Grokipedia is that you now have an army of robots who can put a Young Earth spin on a million articles overnight.
I do think that as it is, Grokipedia is a threat to Wikipedia because the complaints about accuracy don't matter to most people. And if you're in the not-too-unpopular camp that the cure to the subtle left-wing bias of Wikipedia is robotically injecting more egregious right-wing bias, the project is up your alley.
The best hope for the survival of Wikipedia is that everyone else gets the same idea and we end up with 50 politically-motivated forks at each others' throats, with Wikipedia being the comparatively normal, mainstream choice.