I think when you think about publishing as what it actually is, researchers communicating to researchers, what I said makes much more sense. I do think formal review does help reduce slop but I think anyone who has published anything is also very aware of how noisy the system is and how good works get rejected or delayed because they aren't "novel" enough.

Honestly, my ideal system is journals with low bars. We forget this prestige bullshit and silliness of novelty (often it's novel to niche experts but not to others) and basically check if it looks like due diligence was done, there's not things obviously wrong, no obvious plagiarism, and then maybe a little back and forth to help communicate. But I think we've gotten too lost in this idea of needing to punish fast and that it has to be important. Important to who? Tons of stuff is only considered important later, we've got a long track record of not being so great at that. But we have a long track record of at least some people working on what we later find out is important.