I have taken part in the peer review process on both sides of the issue.
It is not perfect and depending on the field, it can be more political than scientific.
There is little to no incentive to replicate the work. Most reviewers are under time pressure and are working on their own projects. Even if you disagree with the findings you had also best be better politically connected than those you give a negative review.
It does not mean that peer review is worthless. It just means that it can be just as littered with pitfalls as any other human endeavor.
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