Why even have notability be a requirement? Why can't the wikipedia just hold everything about everything?
I think the it's a good idea, but it's not a good fit for wikipedia as it exist today. I think it's grown to the point that for good or bad, it needs to be managed more like the Google corpus, than a traditional encyclopaedia. I'm not advocating abandoning human editing all together, but I think a new ideas are needed: wp's success has made it into a fundamentally new thing. It exists in the conceptual space between the sum of all newspapers and scientific journals, traditional encyclopaedia and the whole World Wide Web.