When people analyse its content, it becomes problematic. Even though its content is referenced, many of the references are old and could do with new insights that science brings on a regular basis. The content is male oriented and thanks to projects like "Women in Red" it has improved substantially but not enough.
We know all mayors of Denver and we do not know National government ministers of African countries. Lists are to be maintained on EVERY Wikipedia, English consensus insists, and they are not properly maintained as a result. Not even on the English Wikipedia.
Money buys you things. When you donate to the WMF, you gain a sense of ownership. That is important; we may not need more money but we do need a sense of ownership in India, Columbia, Nigeria and Guinea. When the other 50% of Wikimedia traffic takes ownership away from those who had enough, we find topics with more real world relevance. Commons becomes usable in the other 299 languages and we seek out these 299 communities to make it work for them.
Given that we don't do enough for 300 languages, given that we can do much better, I will argue that Wikimedia needs more support, even money.