"Proper" peer review could mean formal peer review which, indeed, has a lot of flaws. In the context of OP, however, just having any academic look at it and sug

"Proper" peer review could mean formal peer review which, indeed, has a lot of flaws. In the context of OP, however, just having any academic look at it and suggest improvements would probably already be a huge boon, regardless of potential funding or challenge: it achieves better knowledge discovery. Either form of peer review is pretty hard to obtain through arXiv.