I really really really really like the new everyone can edit feature. Heck, I've almost approved 1,000 of them. But, some people don't understand how the system works, and could potentially cause 'harm' to the content of the site.
For an example, see these proposed edit:
To help avoid this, I think editors (under 2k) should only be able to change 50% (or some percent) of a post. This will prevent people for entirely mangling the meaning of a post.