Only problems I see being run into for an internalized wikipedia is one a group of mine ran into in the past. If it is a literal wikipedia page, one thing that occurred was a few people getting mad with the right privileges to outright wipe almost all entries, much easier than you think versus on here.
Aside from that being a security/personal concern, I am mixed on this. Yes, I love judging in the Factory but at the same time, there is an element where creativity can go absolutely nuts. I personally want the return of Mega Maid for the giggles yet we don't want the pages filled with absolute junk either from people attempting to "archive" or delete old submissions.
Pros in My Mind:
No more "Website Link Changes" to where all old factory items become much harder to find.
Centralized way to database nearly all entries at once without issue and through the search engine in a much longer fashion aside from ten pages.
An expansion on creating more unique entries, less monitoring and a much more expressive idea of creative freedom.
No more Factory Modifications, a user can modify at any given time without having to ask for permission.
Cons in My Mind:
Security is a massive issue but that is from personal experience. Also including that if the website goes down aside from Star Wars Chaos, can it be rebooted from the same people or will we have to wait from another group? Also ensuring it cannot be hijacked and dot it with malware (Rare but still happens)
The Wikipedia will at some point balloon to a massive point, requiring it to be indexed constantly, monitored and assuring things get placed in the right spots. I do not foresee a slowdown but it could happen if given to many pages or viewers. This will also include a lot of dead links which is something I honestly hate.
Having to learn an entire new set of [setdiv] and [borderbox:table] nonsense. I know I did not do it right, I just hate it and may not be the most user friendly in the world. Not including also a way to categorize under a users name which I am unsure how it works in a wikipedia format, possibly recent changes? The users will have to figure it out to use the website but those who are savvy enough, probably be the best.
Hissy Fit from a particular user to nuke their own submissions and leave. Galactic Alliance had this issue a long time back from the div maniac.
Those are my thoughts, buy a cup of coffee with it.