There are many well-known examples of Wikis in action. There is, therefore, little argument against Wikis presenting a viable, living document to any size community.
A quick Google search with the simple query wiki returns over 400 Million results as of this writing. Many of the results on the first few pages are long-standing Wiki-based sites.
From gigantic Wikis such as WikiPedia to small personal Wikis, this technology has been adopted and adapted by a wide variety of users. Because most Wikis are (and are built on top of) Free, Open Source Software technologies, they are not going to fade away any time soon.
Next Post: Which Wiki Works for You?