An enshittified Wikipedia would be a sad thing.

The vulnerabilities and strong incentives are there.

• People contribute to Wikipedia with the intension of sharing value freely, but without retaining any rights or control over what they contribute.

• The community has created so much coordinated, networked and compounding value, invested so much time, that it can't sensibly walk away, or start over.

• Centralized leadership ends up in control of an increasingly valuable and unique asset, they didn't have to pay to produce (at anything like market rates). They have increasing opportunities to extract value by means unanticipated by contributors. And they have no requirement to consult with external contributing individuals, representatives, or organizations.

That situation rarely ends well.

Wikipedia, and similar community content efforts, need a standardized license that does for community produced/shared content what open source licenses do for community produced/shared code.