It's been argued that prominent figures such as Ted Kennedy, Tony Blair, and David Beckham have over the years been targets for vandalism on Wikipedia, and the new rules reflect the fact that as Wikipedia grows in importance, so does the weight of the mistakes it carries.
In my opinion, this move is a shame. The very principles of Web 2.0 and social media are being shattered by this need for this editing process. The beauty and freshness of Wikipedia is the fact that content could be self-corrected over time and blips would be self-regulated by users, often specialists themselves. It's a strength that content is revised up-to-the-minute; and with errors will come revision. The equilibrium of correction will eventually override the temporary glitches that inevitably occurs with real-time mass-produced content. That's why Wikipedia has become the de-facto place for quick information fact-checking. Why do we need a board then? Wouldn't that defeat the original purpose of a "free encyclopedia that anyone can edit"? Is it merely a public relations farce? We'll see.