The elephant in the room in all this is that Wikinews lacks the critical
mass of editors to overcome these issues.
you could have a strict review system; if there were enough good reviewers
you could cover a broad spectrum of news; if there were enough editors
you could implement collaborative & freely edited original content; if there
was enough interested editors
The problem is that Wikinews already has a high barrier to entry - it
doesn't fit a model of casual contribution once or twice a week (or month).
Producing a functional daily news outlet (website) requires a substantial
full time staff... of course so does an encyclopaedia, but an encyclopaedia
doesn't have a weekly time limit on story completion... so we can adopt a
more leisurely model.
For "news" that model does not simply cut-n-paste across.