I don't know much about creating a wiki and came up with this after a short google search. I'll look into Miraheze, was not too pleased with the ads on Fandom, tbh.
Technically, there's no difference in the long-term outcome, and if you had reason that creating a new company would be more likely to succeed, that would be a fine idea.
I assume it would be easier to take over an existing company, because you'd gain access to their infrastructure, intellectual property, experienced employees, and existing customer base.
You're definitely right. Competence is critical - I will have to edit my article to include that. I don't believe that is a fundamental flaw with the idea, but it is something I was probably not careful enough about when writing this out.
I'll need to think about how this effects the idea.