The system of peer review is new in the history of science. It's not a it hasn't really started the test of time, as you call it. You could argue is kind of like how the king might have a taster or even better: if the taster has got some idiosyncratic defense mechanism against toxins. And all that is very new.
Psychologist Adam Mastroianni says peer review has failed. Papers with major errors make it through the process. The ones without errors often fail to replicate. One approach to improve the process is better incentives. But Mastroianni argues that peer review isn't fixable. It's a failed experiment. Listen as he makes the case to EconTalk host Russ Roberts for a new approach to science and academic research.