I think an open system along these lines would result in too poor signal to noise ratio. There are far more people willing to engage in bikeshedding than people

I think an open system along these lines would result in too poor signal to noise ratio. There are far more people willing to engage in bikeshedding than people with the expertise, interest, time and funding to make valuable contributions. Today's system is already collaborative. It is precisely those people with the expertise, interest, time and funding in a particular problem that co-author the papers. Then there is the review process to provide feedback and spot the serious mistakes and problems with the papers. After which, for significant works, there are follow up papers by various authors to expand, refute or clarify the original work.