Since you got voted down, I see where you're coming from, and past discussions about Wikipedia on HN has revealed that a non-trivial number of HN members have only a surprisingly superficial understanding or experience with Wikipedia, I'll attempt to further explain.
The Anna Patterson one is absolutely a case of where the proposed solution achieves the desired effect (in my opinion). redthrowaway hasn't mentioned whether he or she agrees about the Patterson situation, but that's fine, because it's neither here nor there.
What happens on Wikipedia is that people drive by and will literally create an aritcle like "Shitfuck" and will literally write something like "a shitfuck is a guy named jason form cedar springs". seconds later the page content is changed by them again to something like: "a shitfuck is a guy named jason from cedar springs he really likes to shit but he never gets to fuck".
The proposed solution is to retain all deleted articles. redthrowaway points out this isn't a realistic approach in light of these types of new articles. Opposition to redthrowaway here seems to be in the case where multiple someones somewhere care do care about the information in the Anna Patterson article. Is the Anna Patterson article at all similar to the shitfuck incident? Is someone somewhere going to come along and constructively improve that one?
In case you're wondering, "yeah, but how often does that kind of thing really happen?" It happens. A lot.