First, for all those talking about reliability, note that other encyclopedias are also rife with errors. This tends to happen when humans are involved, see History of the World for further details on where we screw up, note genocide and the whole Earth is flat fiasco for good examples.
Second, since people seem to care about the reliability, I ask why? No one should be using this or any encyclopedia to do any serious academic/research work. Like hopefully your primary school teachers told you, use encyclopedias to get a general understanding of the topic and for a good bibliography to start your research paper with. And if you cite an encyclopedia, here is your F, and your job application for McDonald's. Now, it would be great if Wikipedia was accurate, but see the first part as to why this is more of a goal than something that exists in reality.
Third, secret mailing list? So what? I'm in the top 1500 of editors by edit count I could care less. I'm not an admin and don't want to be. But on every user page there is a "email this user" option, and I do use it from time to time just like the admin cabal seems to be using it, though I can't block anyone. Somethings are just better left unsaid on Wikipedia where people can misunderstand statements, or being too sensitive. So, as a "major editor" or whatever the phrase was used by this article, I'm not looking to leave because of this, its actually the lack of quick and painful action by admins towards the vandals (and the related lack of protecting articles) that annoys me.
Lastly, the wikidrama. All the drama is user created. If you go to Wikipedia with an intention to do anything other than contribute positively through content additions, then you should not be welcomed. You want to write poop or your favorite expletive, you want to push your opinion, or promote you/your company, then go start a blog, Wikipedia has better things to do than deal with you. If you have paranoia issues or a God complex, or just a big ego, then you should not be an admin. But above all, instead of spending hours writing ANI/RFC reports for a 75 minute ban: write a quick note about the problem, remember who did what and reward/punish where appropriate at a later time (e.g. RFA), and then get back to editing articles in the mainspace where there are 2.5 million plus articles and not even 1% at FA or GA level.