I'm sure it is. If I wrote that article that is. If on the other hand I just walked in through a front door it is as useful as a book of the month featured in a local library. It is essentially a random pick.
> The FA process is one of the primary drivers of editorial quality on the site.
Hold on. So you are saying that if it weren't for a carrot of being featured on the front page, the Wikipedia editors would've not been putting as much effort into polishing the articles as they do now. This is simply not true.
Giving people something to strive for helps define what it is to succeed.
(to put it in web 2.0 speak: properly incentivizing users to submit quality user-generated content is essential to any crowdsourced website, and few incentives work as well as the recognition of your peers).
I did a lot of things on Wikipedia. Perhaps my most lasting creations will have been [citation needed] and the admin's noticeboard. Though I have, perhaps, a somewhat dubious legacy, it was a fairly amazing experience - rather marred by the manner in which I had to leave the project.