Great points here, I agree on all fronts.
A few things that I realize now, we should have put into the post for full context:
> We replaced 1:1's with managers with peer 1:1's between people in equal positions. So it was true peer to peer mentoring on the same hierarchical level. This however didn't fulfill the need that people really want to hear from someone who might have more experience than them, or who can guide them onto the next step.
This is what we learnt and what we brought back.