Because it's not perfect yet?
The point of Wikipedia is not to have some servers ticking over. The project has a vision: "Imagine a world in which every single human being can freely share in the sum of all knowledge."
I agree it's not ok for them to lie, and am bothered enough by their dubious fundraising tactics that I stopped donating. But that's a totally separate concern than whether Wikipedia's mission is complete.
You'll be proper mad when you realize how much money that other company, whom you regularly pay for access to their services, has in the bank.
There's a difference between "donate if you appreciate this website" and "donate if you appreciate this website because we will have to shut down otherwise (not really though)"
That's not their vision. Not only do they require entries to be notable, they'll remove information from articles that are, in their editorial judgment, too long. Neither action is compatible with the goal of sharing the sum of all knowledge.
Seems almost mundane, as if they’re running a very effective foundation that’s actively achieving their goals. See the recent Cambridge study that explored how their governance has been effective at promoting moderate discourse while suppressing misinformation and hateful content: https://www.cambridge.org/core/journals/american-political-s...
Its mission is not just "hosting" - actually creating an encyclopedia is much more than paying for the server costs.
Wikimedia produced many very useful projects which often integrate into Wikipedia, but work well standalone as well, and work towards the stated mission - projects like Commons, WikiData, WikiSource. Some projects are more useful than others, but that's just normal.
Little of the new stuff is for wikipedia and what's there is of questionable value.