The aim of Wikidata is
- "Wikidata acts as central storage for the structured data of its Wikimedia sister projects including Wikipedia, Wikivoyage, Wikisource, and others."
The big danger threatening Wikidata is to become an indiscrimate gathering of stuff dragged in from the world wide web: this would lead to the entropy death of Wikidata (everything connected to everything, no more structure, no more data).
When it comes to organisms the aim of Wikidata firstly means presenting data about the various taxonomic viewpoints (in the form of solid taxonomic references) concerning the taxa treated in the Wikimedia universe and also presenting nomenclatural data (this last is not really within the scope of Wikimedia, but is hugely popular, and is here to stay).
A big danger threatening Wikidata concerning organisms is to get too close to indiscriminate data dumps like Catalogue of Life, ITIS and the like. The closer it gets to these the more superfluous Wikidata will get (just a duplicate) and the more unreliable Wikidata will get (there is an unbelievable amount of junk in Catalogue of Life). Another danger threatening Wikidata concerning organisms is to drag in nomenclatural metadata (irrelevant to the taxa treated in the Wikimedia universe) just because it is can be found on the world wide web.
In practice, for organisms most of Wikidata is at the lowest level imaginable, with just basic (but unreferenced) connections being made, so that at least it is structured, if only tentatively. Actual data is still very sparse (weeding out errors is fairly thankless, especially if some other user happily puts the error back in). - Brya (talk) 06:20, 6 November 2014 (UTC)
A worrying development is that the WMF seems to have turned to the dark side, apparently advocating slavery, theft, etc.