Exactly, that is the true power of Wikipedia.
I agree, it shouldn't be cited in academic papers and such (same as you shouldn't ever use any encyclopedia as a reference after grade school LOL), but it is an invaluable resource who's true power is in the users.
Sure, you can go put on the MK page "Walt is frozen beneeth the removable turrets", but within minutes, maybe seconds, it will be corrected, plus you can view all the recent (and no-so-recent) changes to when it matters.
There have been several studies done, and they have concluded that Wikipedia is as good or better than standard print encyclopedias in terms of numbers of errors in entries.
And hey, where else can you look up a list of Hannah Montana episodes and airdates, the origins of the phrase "drawn and quartered" (don't eat lunch first), and explainations of even complex scientific information.
Not a day goes by I don't use Wikipedia, but like any resource, it needs to be taken for what it is. I've learned so much from that site it's scary.
AEfx