Yeah, the idea had never occurred to me until now, I'm glad to hear someone else has already thought of this.
I wasn't thinking as much as identifying any single best revision, but utilizing more of a diff-like tool to identify the text/changes that remained most stable over time -- where a brand-new edit doesn't count for much, but the longer it stays around as other edits are made, the more trustworthy it presumably is.
I think the biggest problem comes as articles get rearranged and expanded -- a section gets split into two or three, something gets moved from one section to a more appropriate one, and so forth. Or heck, sometimes entire articles get split into multiple ones, or vice-versa. I'm not aware of any diff-like tool/algorithm that handles these situations well, to accurately track how the same information gets moved when it's not just a simple case of insertion.