The source of the story is irrelevant? The facts of the story are the important part - that a senior editor had somewhat "inflated" credentials ;)
Wikipedia is just an extension of the internet really. The concept of nicknames hiding identities, or folks pretending to be something else, is not a new concept and not unique to Wikipedia.
It's an internet phenomena, not a wikipedia phenomena.
It won't stop me using Wikipedia as a source of information, any more than this phenomena will stop me using the internet as a source of information.
I have no idea who you are, or your real name, but I enjoy and get value out of reading your posts on WebmasterWorld. For all I know you may be some 9 year old kid* who really knows nothing at all. I act as my own sift.
OK, that would mean that you joined when you were 2, but you get my drift I'm sure... ;)