I don't begrudge them the odd party, anniversary, meetup.

And some of their subprojects are a great idea and could go much further -- it'd be fantastic to have a Wikipedia atlas, for example. The WikiMiniAtlas on geolocated articles is nice but it could be so much better.

But as per https://en.wikipedia.org/wiki/WP:CANCER it's a huge concern that they're blowing money pretty much at the rate they get it, when they should be saving it for the future, and be pickier and choosier about what they're funding at any given time.