What exactly is outdated that needs updating?
The main thing I know of is there's still a lot of articles out there with DRv2 damage ratings.
As far as formatting, I've been already doing this, adding history sections, OOC notes sections, and removing forced line breaks and unnecessary bolding. In the last month I've touched hundreds and hundreds of articles for updates.
The idea that we should shut down for updates is not something that seems necessary. But I like the idea of getting help with updates!
I've seen a few articles that had only raw numbers with no format. Mostly Yamatai weapons so far. It's been a while but I could hunt them down when I get home probably.
As for organizing the teams, it'd be relatively simple. Borrowing a method discussed with Scher combined with my own this is how it would work.
NTSE amd staff provide the overviews. They'll approve or reject submissions as needed. The rejected ones are tagged as they come and those will be the ones we as a community work on. NTSE can also mark articles for deleting in the case of retconned and heavily outdated articles. Sometimes it's better to start an article over from scratch.
Faction management will provide the backbone of the operation. They're the most familiar with the setting and the new rules aside from staff. Their players will do most of the leg work but that's split across many people. They'll also be splitting these people into teams. They'll also be the ones preliminarily approving and disapproving articles which means that the factions can be more coherent and also make sure that every article fits their faction or its history.
Team leaders will do preliminary looks for grammar, spelling, etc. That redyces the load on FMs and NTSE since if it's done properly that part is already done and the NTSE only have to make sure the templates are fine and the overall content.
The individuals will help by fixing articles themselves. Ideally, anyone that submitted an article will be the one to fix it. If the owner isn't here anymore, can't be reached or whatever, that article is assigned to someone by an FM.
I've done this before with my own people many times working in game development. It's tedious but easy work. The information and ideas are already there: they just need to be fleshed out.
Reasonably speaking if we all pitch in together we can have this done in a month or two if everyone works hard at it.