But to play devils advocate, a lot of this depends on your views of what WMF should be. Some see WMF as "keep wikimedia sites up and healthy". But the foundation is much broader:
> The mission of the Wikimedia Foundation is to empower and engage people around the world to collect and develop educational content under a free license or in the public domain, and to disseminate it effectively and globally.
As an example, one of the hundreds of projects that WMF funds is the WikiPortraits Photo Service (https://photos.wikiportraits.org). Take this with a huge grain of salt, but Sol found ~$500K of direct grants in the past 3yr; with 50k Creative Commons or public domain portraits taken as a result.
Some people might be shocked at this, and feel scammed that some of their donation to WMF is funding photographer's hotels/flights/compensation to Cannes, Fifa World Cup, etc; instead of servers or infra or 'KOTL employees'.
Others might think it's an incredibly great use of money; at just $10/photo; while contributing novel, high-quality, human-authored, freely licensed content to the world
Also want to highlight that WikiPortraits is not just covering the fancy events like FIFA and Cannes, but many more smaller and undercovered events as well (indigenous festivals, science conferences, literature festivals, and so on). World Cup coverage in particular was relatively very cheap for how high-visibility the photos are on Wikipedia (majority of matches were covered locally); we've put more towards getting wiki photographers in Benin, Ghana, and Kenya support to cover their local culture and events.
For the amount of direct impact we have on Wikipedia and Commons, I'll go to bat to say that it's a good use of money compared to a good number of other projects that have received more funding over the years (ofc I have a conflict of interest here, but still). But I do get the larger point, that this sort of project is not necessarily what people expect when they donate to Wikimedia (and Cannes and FIFA of course stand out in the list of events being covered and are what people will focus on). And I've also been critical of the WMF's approach to donation comms for this reason.