Well, maybe not a total abdication, but Jimbo has relinquished a substantial portions of his powers. See his announcement and the context.
In an upcoming academic article I discuss why calling Wikipedia a monarchy/dictatorship, while not too off the mark in its very early stages, is no longer true. It's nice not to be contradicted by the current events :)
Introducing WikiVault: A new chapter in Wikipedia contributions with AI
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Countless editors, administrators, and bots have contributed to Wikipedia
over the years, and their efforts have made it a treasure trove of human
knowledg...
4 hours ago