If we have the review and self correcting mechanism of Wikipedia, why do we need another site?

Not every Wikipedia article is detailed; some niche articles may lack information, and people might find editing them daunting. In theory, an LLM could help fill these gaps.

Shouldn’t Musk be spending his time on business ideas that make money?

Is it the wisest use of resources? Maybe not, to be honest. I understand where he’s coming from. Encyclopedias are very important tools for humanity. We could argue that, if he really wanted to start an AI-created project, he should have begun with an AI-powered wiki dictionary as an alternative to Wiktionary.