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It is visible everywhere. Some people hoard knowledge so that they stay important in the company. Some people hoard knowledge so that they can get more money from bug bounties. It is almost always about personal gain.

Of course there is no upside for spending time updating documentation unless it actually is part of your job description or there is legal requirement for company.

If you put knowledge in wiki, no one will read it and they will keep asking about stuff anyway.

Then if you put it there and keep it up to date you open yourself to a bunch of attacks from unhappy coworkers who might use it as a weapon nagging that you did not do good job or find some gaps they can nag about.

I write documentation because I enjoy it and I see it as a tool for consolidating/solidifying my own knowledge

Of course, but at least in my personal case is more about the lack of tooling.