People are not fundamentally bad. It only takes the smallest of correctives to take care of that tiny minority that wants to disrupt the community.
Wikipedia is first and foremost an effort to create and distribute a free encyclopedia of the highest possible quality to every single person on the planet in their own language. Asking whether the community comes before or after this goal is really asking the wrong question: the entire purpose of the community is precisely this goal.
The more time I spent on the site the more I came to think of Wales as some kind of Queen Ant, letting the vast colony go about its work, at the centre of a system where the knowledge of the community is infinitely larger than the sum of experience of all its individuals.
The core community is passionate about quality and getting it right. If you want to read some good criticisms of Wikipedia, probably the best place to go is to the Wikipedia article called 'criticisms of Wikipedia'... It was either the dumbest thing or the smartest thing I ever did. The dumbest thing for the obvious reasons, but the smartest thing because I don't think it could have had nearly as much impact as it has. One of the key things that inspired people to put a lot into it (was the charity aspect).
