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.

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.