To the extent that it undermines the credibility of Wikipedia, it should be of concern. However, I don't see a good or obvious remedy. Among other things, what is a "correction" to one person may be an ideological screed to another.
Nevertheless, what happened in the incident that I mentioned is that EVERY last bit of my edits were revoked, including grammar and structure changes to make the articles less sloppy. What's more, a comment that I added to the Talk page was removed.
I investigated the background of the person who did it. He's a proud member of the political party of the disgraced politician (an ultra-Left party), now totally out of power.
My choice was to fight it, or to let it pass. I decided to let it pass. It makes no sense to fight the Left on a battlefield of their choosing; instead you defeat them where it matters. Nevertheless, it's yet another example of the Left's assertion of control via censorship.
It is a useful resource, but it's vitally important to recognize its limitations on current topics which have political implications.
I would not trust ANY Wikipedia biography on ANY current (or recent) public figure. If Wikipedia wants to be credible, it should delete all these biographies or simply replace them with short dry texts. Defer biographies until they're long-dead.
-- Mark --