Contrary to what some out there think, I don’t think such a project as this is created “in spite of SE/SO turning evil”. Abstract from any of those events, there is no such free Q&A knowledge base, like there is a free Wikipedia encyclopedia (powered by a free MediaWiki engine). Anybody can roll their own Wiki, but for now it’s not as easy to roll your own Q&A site. This project should help solve that problem.
Also
They definitely do :)