I think it's even more fundamental than that. The current system is binary. An article either is published or it is not. There are nuances beyond this, like

I think it's even more fundamental than that. The current system is binary. An article either is published or it is not. There are nuances beyond this, like citation counts and journal rankings, but "published in a peer-reviewed journal" is a mantra that is often taken as a synonym for "established as truth." Whatever replaces the current system ought to have an output that is more like, "Lots of people who have published things that lots of people think are worthy of note think that this paper is worthy of note."