But ML already has conferences and journals where work is peer reviewed and published in an open access manner.
So it's not that academics see journals/conferences as value-less, but that they are already doing all this work for free, why do it for free for Springer who will then charge everyone?
I don't know what the long term solution is but I have a feeling it won't involve companies that charge a lot of money for a service (publishing) that has been effectively free since the Internet has existed.
Also in terms of replicability ML is in a unique position where a lot of research is on standard datasets with models that don't take an excessive amount of compute power to train. This means that if the authors include a github link to their code you can fully replicate their results. So some "peer reviewed" ML papers can actually subscribe to your first description of peer reviewed.
Not to say the research is worthless, just that straight replicability is not necessarily enough.
The greatest value of journals is when hundreds or thousands (or, hell, dozens) of other people, well informed and competent in the subject matter, read the papers and consider how it meshes with their own experience and understanding and build upon it, writing letters to the journal pointing out problems and articles which follow up on the original work.
That is how an idea is validated. An article published in a journal that no one reads isn't much different than an unpublished article, and if work is spread, responded to, and built upon outside of journals, it isn't much different from a journal-published article.
I love learning but stayed away from college because I couldn't stand how fundamentally at odds traditional education routes are to creativity and free thinking.
Personally, I find Twitter and arxiv-sanity good sources for keeping up with ML. They have their own mechanism of surfacing popular content and filtering based on preferences.
Can't we have some kind of PageRank system, not necessarily based only on citations, to solve that?
The value-add from journals is that they (at least theoretically) guarantee another person has read the paper carefully and believes it is correct.