I find some of the editing wars that go on in Wikipedia to be quite hilarious. I looked up an article on Derek Smart a few weeks ago (I was looking for info on his latest release; I refuse to use the word "game") and came across a lively edit war between supporters and detractors. The main detractor is a guy named "Supreme Cmdr" (Smart's nickname on his forums), and he's only edited articles related to Smart and his games. Pretty suspicious...looks like the flame war all over again.
As for the actual articles, I'd say "casual reading" is the most apt description. Anyone looking for say, research for a paper, should stick to libraries or technical report servers.
Derek Smart is a bad example because he's a magnet for internet assholes. A better example of the stupidity of Wikipedia might be the one used on The Colbert Report - http://www.youtube.com/watch?v=zmHm0rGns4I