I impatiently await to see how it's going to be received by the international Wikipedia community. If I had to guess, I would say with a large dose of scepticism but who knows, that might work.
There is no need to fork. Wikipedia is a US originated project but it's also very much an international project already with a presence in 300 languages and 39 local chapters which are independant but affiliated with the foundation.
There is a reason the press release talk of a _universal_ code of conduct.