Calling a system that is 90% foss and public domain "owned" by anyone is a bit of a stretch. I can, fully legally, download all the text of Wikipedia for about 130gb and host it myself.
Besides, Jimmy Wales is awesome.
It's an oligarchy in reality and Wikimedia was having a discussion a couple of years ago about implementing the SDGs, which come from the UN and not the public (who are barely aware of them.)
8 out of the 10 largest Wikipedias are European languages...