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When people hear about this idea for the first time, they may be concerned that the site users may use their power wrongfully.
Ultimately we know deeply that the other side of fear is a freedom. (Marilyn Ferguson)
Free school. And what if they don't learn division? Or get addicted to television?
Free market. And what if prices get too high? Or what if no one will make cloths?
Free software. And what if people modify it erroneously? Or if no one maintains it?
Free country. And what if civilians use their freedom against the country itself? Or aginst one another?
All of these concerns are well worth worrying - such things do really happen. But they also happen in industrial education, communist economy, commercial software and non-democratic countries. And all the things that may happen in a free site happen also in other media channels, including paper-printed newspapers.
But it turns out that where there is freedom, things tend to come to some balance. The road to that balance may be unpredictable, and rough at times, but without traveling it communities cannot make the same achievements that such free systems make in reality.
The unexpected is what makes life possible. (Ursula K. Le Guin)
A free site can be alive due to its freedom and uncertainty. Yes, misinterpretations and distortions may arise, but anyone is free to fix them and pull towards a better direction.
See also: wiki:WhyWikiWorks and mb:SoftSecurity.