Wikipedia is actually a fairly valuable resource.
yes there is no real regulation of it, but if people read it knowing it isn't 100% authoritative then I don't see what the problem is.
In general you can look up somethign and get a pretty basic idea of what it is. This is valuable when you hear about something that you've never heard of before.
When Wikipedia finds out a part fo their site may not have credible info they tag it and let people know.
The idea of free information, and a collective community that puts it together is also a great idea.