Case in point. A story cropped up on HN a month or two back about S Wolfram being obsessional about recording something. No surprises there, but I happened to wander to Wikipedia and there is not the briefest mention of his suing + screwing everyone who worked or collaborated with him making Mathematica. Apparently that didn't happen. At all.
Sure it wasn't quite SCO vs IBM, but it was well known enough in N England during the 90s that it will forever be my association if someone mentions him, and there was occasional office banter off the back of it. "Wolfram? Who's he suing now, the office cat?" That's because it was in Computer Weekly, PCW, or the hundreds of other paper sources every other issue. On Wikipedia it has been whitewashed from existence, or perhaps never made it in the first place.
That sounds like it might be an editor failure as much as a policy failure, perhaps? Valuable information that exists only in peoples' heads is a real failure point for Wikipedia, but well-documented info that no one has bothered digging up the sources for is not.
Or if you're saying that it was removed by some PR flack, that's also a real problem, but Wikipedia does have mechanisms to deal with it. If you watch an article and can demonstrate that true, relevant, well-sourced facts are being removed, you can get the article protected. It's extra work on your part, and that sucks, but I can't think of a better way to deal with disagreement in a crowdsourced encyclopedia.
I wonder if there's some sort of happy medium. Maybe a thing where legit experts can submit credentials to be cleared by the moderators, the way Reddit verifies identities for AMAs. You'd still be expected to source everything you can, but eyewitness details could be sourced to your verified credentials. (Which could then be re-reviewed en masse if you start posting bullshit later on.)