I have pretty much stopped contributing to E2, due to lack of time and the fact that most of what I add gets nuked sooner or later - usually for good reasons, too, but I can't help feeling the way getzburg does.
The E2 editors were trying to turning it more and more into an objective encyclopedia. It's good to have one, but for me, the specific value of E2's content is the subjective edge, as dwyn explains.
E2 gets better all the time. It started out as the radically simple and beautiful Everything 1. It then went through spectacular growing pains: at one point its policies, software and help files were so horribly deficient that I was considering legal action. In the course of many months, the issues were addressed with busloads of small improvements. We now have clear policies, great software features and excellent help documents. I found the process very extremely interesting, but it's hard to retrace due to the no noding about noding embargo.