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You did not read very closely. I am quoting here from the article you cite.
http://en.wikipedia.org/wiki/Medium-density_fibreboard#Drawbacks_of_MDF
"Drawbacks of MDF
More dense than plywood or chipboard (the resins are heavy)
Swells and breaks when saturated with water
May warp or expand if not sealed
Contains urea-formaldehyde which is a probable carcinogen and may cause allergy, eye and lung irritation when cutting and sanding
Dulls blades more quickly than many woods
Though it does not have a grain in the plane of the board, it does have one into the board. Screwing into the edge of a board will generally cause it to split in a fashion similar to de-laminating.
Subject to significant shrinkage in low humidity environments.
Trim (i.e. baseboards) comes pre-primed but this is insufficient for fine finish painting.
Painting with latex paints is difficult due to rapid water absorption. Most finishes appear uneven and nail holes tend to pucker somewhat."
I have seen cabs lose their covering, melt, and get crushed due to dampness. Earth may not be called Water World, but it is not exactly Tatooine, either. Even on tour in New Mexico, we had to deal with a load out in the rain!