Originally, the idea presented by New FamilySearch was to dispute the incorrect data. It turns out that disputing does not really accomplish what I originally was lead to believe. A dispute does notify the world that you disagree, but if the party submitting the information decides to make the change you suggest, the file is locked by the dispute and until I remove my dispute, no one, not even the original owner can make any changes. Quoting from New FamilySearch Document ID: 108899:
Adding a Dispute
Contact other contributors to see if they can correct or delete their information about the individual. If still needed, dispute the individual. When you dispute an individual, this automatically disputes every piece of information about the individual, including relationships to other family members. Use this option only if you are absolutely sure the individual never existed. In some cases, having a dispute on the individual prevents other new FamilySearch patrons from making needed corrections. [Emphasis in the original].
Another factor, the program is presently only accessible to members of The Church of Jesus Christ of Latter-day Saints (LDS). In essence, the members are a huge pool of Beta testers for the program, since the present release is not yet to 1.0. There are plans to open the program to the public in general, likely in stages with a few users at a time. Although it is hard to see how the data could get any more confused by simply adding more people. It is possible that the scale of confusion might grow but the degree of confusion will likely remain constant.
In any case, there should be a way to either rate the accuracy of any item of information or require a source so that the information can be independently evaluated. It is not enough to merely acknowledge the contributor. It seems that most of these limitations could be resolved more satisfactory by allowing the wiki-type editing or some other method to rate the reliability of the information presented.
New FamilySearch has great potential. It works very well for anyone who is entering the information about their family for the first time. For those with long histories of submitted records, it works less well.