Clearly there's no love lost between the two co-founders, but if either of them had been missing, Wikipedia wouldn't be what it is today.
Larry may have left the project, but sticks his oar in frequently, see for example the Nine Theses he posted to Wikipedia last year: https://en.wikipedia.org/wiki/User:Larry_Sanger/Nine_Theses
Neither Larry nor Jimbo "are" Wikipedia. Wikipedia's editors are Wikipedia, and if they collectively agree with any of Larry's policy ideas, they'll adopt them in time.
I used to glibly agree with what you said, because back in the early 2000s it was primarily the right-wing nutters being fed a diet of Fox News bullshit that were deranged from reality... "reality has a liberal bias", right? Remember the crackpot Conservapedia? But these days I find plenty of equal opportunity derangement from terrible news sources chasing clicks, promoting FOMO, anxiety and keeping their readers/viewers addicted. No political flavour of bullshit belongs on Wikipedia.
His nine theses are basically a how-to guide for replacing democratic consensus with culture war bullshit. He clearly wants to bend the process to match his perception of the world rather than update his understanding of the world to match the facts.
The process Wikipedia uses to produce articles that present facts with without editorializing has clearly worked fairly well. Obviously we have a more difficult time reaching consensus on contentious topics but in general the system works quite well.