On the other side of the coin, Andrew Keen brought up some good points. Who are posting these articles? How accurate are they? And how can an outsider know what is more important, Pokemon or Shakespeare?
Web 2.0, in my opinion, has brought society to a new level. And I think it is a good thing. I can get on Facebook and find old friends from elementary school. I can post links to my friends that I find funny. It's a social HUB that most people are on. People can Tweet what they're doing and millions of followers instantly know. It is a social and cultural revolution.

Andrew Keen has good points about anonymity and not knowing who exactly is contributing, but I disagree in that they NEED monetary compensation. If they wanted it, they would ask. Wikipedia is not "dumbing down" users. Articles are based on sourced documents. Wikipedia is just a compilation of information.
I have to side with Jimmy Wales, especially since he is doing this non-profit, not even charging people to access this plethora of information. What harm has Wikipedia done?