The day that an edit option is available on this site for articles is the day that I go out, buy a katana, and impale both Caleb and Justin for being idiots. The reason for submitting the article is for opinions on it at that exact time you hit the submit button in the space-time-continuum. There are no second chances, no re-dos, no nothing. If you feel like you could have improved upon the article, submit a revised version of it for hopefully better reception than the first horrible edition.
Since just about everyone wants to get a good rank on this site, since it is the greatest site in the entirety of the Internet, everyone is out to please everyone. Therefore, when Person A would mark down Person B's article for X problem, what would stop Person B from going in, and just erasing that simple problem? That would make Person A look like a total idiot, which would greatly amuse me, though it would be completely ineffective, because when one person knocks out something from the article, they will probably end up erasing everything but the letter Q from it, because no one can be angered by the letter Q, it is the perfect letter.
So if you want to edit you work, its called a word processor, not papertank. The reason you are given the ability to preview your article before submitting it is so that you can look it over for problems before looking like an idiot, which by judging the starter of this forum post, and those advocates that agree with editing articles, shouldn't even be submitting works in the first place. Think of this as an essay for school. You don't get to hand in a second essay just because you are a failure of a writer, unless your teacher is a complete pussy and pushover, so you have to get it right the first time.