The obvious problem with the model is...
... there is going to be an inevitable land grab as people seek to gain primary authorship of their chosen knols and then they will become the arbiters of what comes afterwards. In essence I can choose to give my person account of `The Register' (for instance) in the first Knol creation about the Register and then if someone from The Register wishes to indicate that it is completely wrong they will need me to relinquish my hold over my *likely* spurious account or else they need to appeal to some higher power (employees?) or some democratic decision (in which case it just becomes a clunkier wiki).
My two cents.