I understand what you mean and its indeed an issue that the original post attracted donations. Apologies for that.
The purpose of reputation for wiki edits is to reward wiki contributors for their contribution.
Reputation for wiki edits is not an optimal solution, but already awesome to have. Its not optimal because not many users will rate edits. Most users never visit the edits page. Which means that most wiki editors still do not get rewarded for their effort. On my site it will be a moderators task to rate wiki edits, to resolve this problem.
Automatic rewarding of reputation is superior in that sense.
Trophy points and likes/reputation are two different systems. Trophy points are similar to vbexperience in vbulletin.
With automatic rewarding of reputation users will still be able to rate article quality. So the number of points is still dependent upon the rating that readers give.
You are correct that a rating of a specific edit is a true evaluation of the authors work. But because of the complexity of wiki, it is very rare that readers actually look at the exact content of a wiki edit. For forum posts they just need to read the post which is part of the normal user experience. But for wiki edits the user experience only includes reading the article. It does not include going to the edits page, then selecting different edits to see, then comparing the 2 texts and evaluating the difference. This is why 99.9% of the users will not rate edits in their normal wiki user experience. It will need to be done by members assigned to rating edits.
As said that's already great to have and I would be very happy to be able to offer this to my users. But I would also like to be able to turn it off when automatic reputation rewards arrive in VW4.1, as I see that as a far superior system which will make the wiki edits rating function redundant for my site.