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I acknowledged that in my first response.
But it's the most significant step, and what most people think of, and are referring to, when they say, "peer reviewed." A "peer-reviewed" journal's reputation depends on the quality of its "peer review" process.
The bolded is not at all my personal characterization, nor my understanding of how it is perceived in academic/professional communities. And I spent time working in STEM.
When something novel & of interest is published, researchers in the affected community try to recreate it, and in turn publish their findings for further review to continue. This occurs in many iterations.
Peer review is the review of your colleagues, basically everyone in your community. You open the findings up - through publication - for peer review.
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It's a mess right now, the whole publishing world is in turmoil and transition and hasn't caught up with interdisciplinary digital world, which is only going to get further complicated by ai.
That's a very interesting point.
But I'd offer electronic distribution puts more eyes on a paper, and results in more exposure providing more "review".