Policies change overtime and if we make it a rule to delete anything that does not conform to current policies we will have really little history left in the site. There is no saying if today "correct answers" will continue being valid in the future, should those answers be deleted then when the time comes?
It is true that bad, negative, incorrect information in this site has the potential to mess someone up. However, it is important to remember that is also the case for good answers with backing and other details. No one should take any advice given in this site at face value. Actually no one should ever take any advice blindly as a general rule.
Having said that, I believe that really negative/damaging content doesn't survive this site for long because of the arduous work the community/moderators puts into it. Any extremely precarious answer/question has probably been deleted long ago. However if there were some around still, then I think we should delete any really offending content, like we usually do.
The rest of the content that is not following new policies, but it is not otherwise problematic, should remain.
We should close old questions that are not following new policies, and request in comments to update answers that are missing information.
After some time if users don't update the answer I think the best most healthy thing would be to add a comment saying something like:
This answer doesn't follow the latest policies on how to answer
questions in this site. Refer to this link to know what constitutes an
answer that follows said policies.
Or something similar.
I would also update the answer itself with the same message on the top. I know we are against editing other people content, but this would be only a way to make future readers know the answer is old and possibly missing important information and in no way changing the intention of the original answer.
I know someone mentioned the fact that an accepted answer doesn't actually mean it worked for the person asking the question. I agree with that, I think in many cases it means they are going to do what was suggested on that answer, or that they liked that one best. I think that in most cases people are not actually using the advice and later if the advice worked accepting the answer. I think the style of "Q&A" pushes people toward accepting the answer they feel likely to implement regardless of the success they have with it.
Also even if they follow an answer's advice and they fail, it doesn't necesarily mean the advice itself was bad, maybe they implemented it wrong, or even so they did everything perfectly since humans are curious creatures it just didn't happen to work for that OP.
Everything written in this site should be taken with a grain of salt and I think we should encourage participants to realize that is important to take advice given here critically.
I see the value in people providing backing in the form of literature or actual experience, because this helps people understand better how the proposed solution worked for the answerer or how the literature analyzes that situation, but taking anything said here like it is the "ultimate solution" for a situation presented can be just as dangerous as someone advicing something without any backing.
If you do something that has no backing and it fails, you can say "well it was just a blind shot". If you do something that had a lot of backing and analysis and it fails, without the proper critical framework of mind, it can lead you to take it worse than if it didn't have any backing because you may feel it failed because you are a failure or something like that, when it just failed because no human being is equal to any other human being and there are no ultimate solutions.
PS about specific example provided in the question:
The specific example you linked is the accepted answer so I think it would be rather problematic to delete it.
It is missing information but I think it is possible that the answerer forgot to mention that is something he/she did or saw someone else doing. I can say I have seen similar things been done and they worked. If the only problem is that it is missing backing and the poster doesn't update it, I offer myself to help with it. I would be willing to add a sister answer that then we could link in the comments, or something like that proving the backing. Or I could add it in the comments, I am not sure for that particular case what would be the best if the poster doesn't update it.
Also, I wonder if we could take a similar approach with other old answers? Posting sister similar answers but with backing information if we find old answers that are missing information and we have been in a similar situation. Because I think updating the actual answer could be problematic in such cases.