"The Wikimedia Foundation, which operates Wikipedia, reported a total revenue of $185.4 million for the 2023–2024 fiscal year (ending June 2024). The majority of this funding comes from individual donations, with additional income from investments and the Wikimedia Enterprise commercial API service."

(Unless this was satire and I missed it)

They are rather well funded for a non-profit and the reserves in the endowment fund are very healthy:

https://en.wikipedia.org/wiki/Wikipedia:Fundraising_statisti...

https://wikimediafoundation.org/who-we-are/financial-reports...

Wikipedia probably actively wastes $100m per year

please stop spreading lies, Wikipedia is swimming in money and they have money for years or even decades if they would not waste them on various seminars and other nonsense unrelated to running Wikipedia

Society and culture were fine before Wikipedia. I could argue that they have degraded substantially since Wikipedia came into being (but correlation is not causation, in either direction).