Below is a graph from Hitwise showing that Wikipedia now gets almost 0.5% of all web traffic, growing at about 0.2% per year. To some extent, this is what Google Knol is after.
However, Google Knol may not try to be as broad as Wikipedia, just my conjecture. Rather, I think they'll keep the focus narrow and topics where someone has a real expertise. I'd expect only high-quality content for the most part - and don't expect Knol to be another Wikipedia.
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