I do like the system, I believe it just needs a little more policing...even if it dumped the downvoted questions into some sort of reviewable section for the public to vote on...maybe even reward those who vote on the questions points...similar to the points rewarded when editing the wiki entries, or even better, maybe those very same points could be rewarded.
2,0000 users by August 3rd?!? This must be a joke! We'd be lucky to reach 200, as this isn't just a gimme achievement. Creating 20 quiz questions is pretty time consuming...and getting as many questions in a row correct is also time consuming, and as I found out, can be completely unfair. I was given a completely nonsensical question!
edit: Yay, I just finished it...number 167! There would literally have to be people finishing this every few minutes for this to be complete....ridiculous!