All that goes to say, if you just one day got rid of pre-publication peer review entirely – just got rid of it, full stop – there’s no reason to believe that the overall quality of published research would go down, at all. You’re still incentivized to publish your best work; arguably more so because you no longer have the cover of “being peer reviewed” as legitimacy. There will still be good research, and bad research. And post-publication peer review will still be able to pass judgement on anything it wants.

The academic journal business model is a funny one, because the journals themselves don’t actually do much work. The content is produced by PIs, for free, who apply for publication in hope of getting selected. Other PIs who review and curate submissions also work for free: it’s considered a part of academic duty, and prestigious to accept but disastrous to decline. In short, aside from the cost of ink and postage, academic journals deal in one thing only: positional scarcity. The real shame in academic publishing, if you ask me, isn’t Elsevier’s 35% profit margin on journal subscriptions. It’s the much larger amount of money, time and influence that is regressively taxed from the young scientists, to the old ones, in exchange for nothing but brand access.