For the wiki administrator:
the PHP environment is currently limited to 12MB (said in the error report “Allowed memory size of 12582912 bytes exhausted”).
A short look on the mediawiki:
http://www.mediawiki.org/wiki/Manual:Errors_and_Symptoms#Fatal_error:Allowed_memory_size_of_xxxxxxx_bytes_exhausted.28tried_to_allocate_xxxx_bytes.29

says:
Fatal error: Allowed memory size of xxxxxxx bytes exhausted (tried to allocate xxxx bytes)
Raise PHP’s memory limit in php.ini:
memory_limit = 32M ; Maximum amount of memory a script may consume (32MB)

(also on other forums talking about this topic, e.g. http://www.mwusers.com/forums/archive/index.php/t-3806.html))

I see that the wiki server is a VM using 512MB (http://wiki.openstreetmap.org/index.php/Servers/vm).

I don’t think that allocating 20Mb more (12Mb → 32Mb) for the wiki would have a serious impact on the server.

And with this value, it will still be possible to display most of the common tags in a single page.