So now we're left with how we raise money, and the common complaints about the size, frequency, and tone of fundraising banners. The argument is that fundraising messages use unduly alarmist language, and that donors are therefore misled into thinking that Wikimedia is facing imminent danger. I do believe that not enough credit is given to the people who craft those messages in banners and emails. These people care an extraordinary amount about doing the "right thing." They have literally spent years doing A/B tests to soften the tone and figure out the least alarming language possible to raise the required amounts. All that while enduring constant criticism of their work. They are heroes.

But beyond that, there is also a real sense of urgency that the most vocal of us here generally do not sense. There are very real threats to our mission, much closer in time than we imagine. [5] Assuming that, just because we've been around and successful for 20 years, we'll be around and just as successful for the next 20, is wishful thinking underpinned by normalcy bias. [6]

[5] https://meta.wikimedia.org/wiki/2018_Revenue_strategy/Summary
[6] https://en.wikipedia.org/wiki/Normalcy_bias

Stressing the good will and effort of the people who craft these messages to do the right thing is important. That doesn't make the outcome beyond reproach though. Questioning the outcome doesn't have to involve questioning the good will and effort of these people. Getting the impression that questioning the outcome in some way makes people believe it questions the good will and effort of these people is hurtful.

Without going in to that point too far, is there data on whether the perception of donors about the financial situation of the foundation reflects reality, what donors think the WMF spends money on vs what it spends it on, and perceptions vs reality of after how much time which projects would go black without new funding. I have the anecdotal impression these lay pretty far apart, but anecdotal impressions don't make data.

If we don't at least have a common understanding of those facts, we can argue about this for another two decades without coming any closer to an understanding.