When you ask people what project is the most useful to them, you expect to hear "Wikipedia". Often it is not the English language variation of the project, but Wikipedia is what you typically hear. I asked a relative of mine what her favourite was, and to my amazement it was Wikiquote. Finding good quotes is of importance to her and Wikiquote fulfils this role.
Some people are of the opinion that Wikiquote is not so useful, that it is to be closed because many of the quotes are at best available under fair use and not under a viral license. The proposal can be found here..
Many of the arguments are a bit stale and as always, it is other people telling the people who do the work what to do. I am sure that when the WMF has a valid reason to kill off this project they would do so....
I hate these recurring eruptions of destructiveness.