There's also a search, navigation and organization cost associated with these sorts of things. They need to be linked together, organized into categories, and if you include a bunch of non-notable garbage it's much harder for people to find the high-quality articles about notable things out there.
"Deletionists" aren't running around deleting things out of spite or something, there are good reasons for the notability guidelines.
But Wikipedia editors are completely non-fungible. The guy who wrote the page on some obscure 80's movie isn't going to start maintaining the Civil War page with all that extra time if you delete his movie. He's just going to stop editing. So the 'quality control' reasoning doesn't hold water with me. The navigation point still stands, but that's a technology problem that can be solved.
There's no real cost to keeping Wikipedia articles around.