Not giving Wikimedia money does absolutely nothing to stop a bad admin or group of admins from making bad choices. Wikimedia has very little control, if any, over things at that level. They can advocate for change but that change must come from the users themselves.
https://www.bbc.co.uk/news/technology-59325128
What is true is that the Wikimedia Foundation finally, after 10 years, grasped the nettle and had someone take a look at the Croatian Wikipedia earlier this year:
https://meta.wikimedia.org/wiki/Croatian_Wikipedia_Disinform...
Some Croatian Wikipedia admins had their privileges removed, but that in itself doesn't change any of the content. Whether and when the Croatian Wikipedia will become mainstream remains to be seen.
Our neoliberal politicians have massive confirmed scandals reduced to 1 line vaguenesses, while their tiniest plaudits merit paragraphs.
And vice versa for anyone independent, left wing, anti-war, anti-corruption etc.
And to you I say Wikipedia is open source, you can edit in stuff yourself. Sure there is some inertia and moderation and some users will engage in edit wars but as long as you add information (e.g. the scandals you mention) there is usually a low resistance to do so. Editing or removing stuff requires more justification but it is feasible too, as long as you have an encyclopedic reason to do so.