I'm a big fan of Wikipedia, and I edit it quite often, but the more you use it the more you are aware of its possible faults. I think it's fine for browsing and stuff, and there's a lot of interesting things in there that would be hard to find otherwise, but there's no way I'd cite it in any academic setting.

But edit wars happen mostly either on something controversial, or when someone gets anal about a topic. In either case it's likely that someone will step in and slap a 'disputed' label, and an admin would freeze editing if it got out of hand. It's not perfect, but at least it's honest.

But then one should always be skeptical on pretty much anything one reads nowadays.