Not really. With DYK you get main space exposure which means a lot more people read your articles. Which is really what motivates a lot of editors.
That, right there, is how to get more editors on WP. In today's Facebook culture, people are more narcissistic than ever. Many people want to see their name on the internet and desire to be micro-celebrities. Somewhere on the article (like right below the title or at the very bottom, but on the article itself) the top contributors get their names listed, linked to their userpage. Yes, there would be arguments about how to determine who should be listed (number of edits, DYK, etc), but when aren't there arguments on WP?
I'm sure there would be much wiki-lawyering and game-playing on high-profile articles, but perhaps if it was done on "featured" or "good" articles only, the more crafty recognition-seeking editors would latch onto lesser articles and improve them for the credit.