So let's say I have a sports related question and if I do a little bit of searching online I can find the question and the answer on some other website. Do we want such questions on SE?
In one hand it's not really necessary or useful to post a question that already exists on the internet? But on the other hand SE needs more promotion and by posting such questions we can get more hits.
Ben Miller points this out in his answer for another meta question. Emphasis mine to address your question.
Having basic questions with great answers does not hurt our site at all, in my opinion. In fact, the stated goal of our website, as expressed on our Tour page, is this:
With your help, we're working together to build a library of detailed answers to every question about sports.
Just because the answer can be found elsewhere doesn't mean that we shouldn't also have the answer here
So, if "build[ing] a library of detailed answers to every question about sports" is equivalent to "trying to be an encyclopedia for sports questions," then yes, that's what we're doing/trying to be based on the verbiage presented on our own tour page.
