This is kind of amazing. I feel like this is something that everyone has thought of in part, but no one has really conceived of as a whole, let alone start working on it for real.
Having to pay for the service naturally creates a barrier to people trying to mess with the whole project, but then again, one should never underestimate the internet's propensity to ruin nice things. Wikipedia manages it relatively well, to be sure, but I wonder how much time Stephenson and his buddies are truly interested in moderating the whole thing.