[JdeBP]

Has that observably worked for Citizendium or lobste.rs, which have tried exactly that for years, though? Have they been widely recognized as superior to Wikipedia and Hacker News? Have they in fact been widely recognized?

If your answer is that Wikipedia and Hacker News still get the recognition and haven't collapsed, then I suggest that there are already examples to learn from that the same idea for Stack Exchange won't work.