This idea was what lead to the split up of Jimmy Wales and Larry Sanger on Wikipedia. Sanger went and created Citizendium which was supposed to be wikipedia wit

This idea was what lead to the split up of Jimmy Wales and Larry Sanger on Wikipedia. Sanger went and created Citizendium which was supposed to be wikipedia with only credentialed authors and a panel of peer review. By all accounts Citizendium failed pretty spectacularly.