While their current focus does seem and probably should be on politics due to the wide reach of that topic, I think the idea of perspectives in general is a great idea for such an encyclopedia. The problem, in my view, that leads to the culture of deletionism at Wikipedia is the inability for one article to coherently explore all aspects and interpretations of a topic, so editors start deleting all but the parts they care about. Facts that are relevant to one perspective are not relevant to another. For example, Jesus-the-historical-figure is a different topic from Jesus-the-religous-figure.

I think the way Infogalactic solves the problem it is trying to solve is that people no longer have to argue if a particular fact is worth including in an article and have an edit war. It opens up a third option of recognizing that including or not depends on the circumstances of what the reader is looking for. I'm not sure what potential new problems you are thinking of.

As for corporate sponsors, they are bound by the same rules as the rest. I don't think explicitly recognizing corporate interest in the topic would be worse than trying to have an objective page which would probably be subverted anyway.

As for terminology, I don't see how "Infogalactic" as a name is more confusing to new users than "Wikipedia". Most people didn't know what "wiki" meant before Wikipedia. And I don't think new contributors would really have a problem figuring out "Galaxians" and "Starlords" with the obvious context.