I think there's an element of fear involved. Pretty mild fear compared to most, but it's still there. People are afraid of being wrong and the fact that Wikipedia has an obvious risk factor makes it more dangerous than other sources. Sure, a newspaper article or printed encyclopedia can also be wrong, but Wikipedia is upfront about its crowdsourced nature and that highlights the possibility of mistakes. This is both good and bad. It allows people to make an informed choice about who to trust, but it also somewhat discounts the hard work Wikipedia editors do and undermines the public trust in crowdsourced information in general. Like Wikipedia itself, this is a double-edged sword.
The public focus on Wikipedia as the poster child of crowdsourcing definitely colors how people see the whole concept. And when the popular narrative surrounding Wikipedia is that it's untrustworthy and easy to mess with for a prank, that reflects on crowdsourcing as a whole. So I have to wonder if presenting Wikipedia in a more nuanced way would make crowdsourcing as more popular option.
An example of strict Wikipedia moderation:
https://mashable.com/feature/climate-change-wikipedia/
I agree that fear seems to play a part in why some people are so resistant to Wikipedia. Just in my own personal experience, the people that I remember who were the most vocally against Wikipedia did not give the impression of being very tech savvy, so it's possible that they did not really understand the moderation and editing process and safeguards in place to protect Wikipedia pages from vandalism and misinformation.
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