> ... eventually the only thing that accrues is things that the factions agree on, or at least what ArbCom has demanded they stop fighting over

Or what the faction with the most favored access to ArbCom manages to make stick by getting the other faction banned.

A state actor could absolutely cause immense damage to Wikipedia at scale, because most admins aren't experts in the subjects whose articles they police. I'm just surprised that nobody has done so already.