Wikimedia can do as they please, and if it results in a shitshow as many such efforts have before, then on their head may it be.
I've been pretty generous with recurring yearly donations up until now but I'll honestly put things on pause until we see how some of this plays out.
If anyone is genuinely concerned about the impact this may have, I would suggest archiving a recent dump of wikipedia at the least. It's only ~25GB.