Handled by the community team at Funcom, the database will serve as an easily accessible source of pertinent game-related information about updates old, new, small and big. Everything from minor content stuff to full-on expansions, like Rise of the Godslayer. The website is still partially in beta as content is being added and knobs are being tweaked and dialed for maximum performance. So if in your venture for precious information you run aground due to a lack of content or technical issues, don't be all too surprised.
Having an official wiki isn't a bad idea. With time and attention there's no doubt many a person will find the source of info highly useful. In fact, we've already discovered a great use for it right here, although that particular opinion is arguably of a subjective nature.