Agreed that it could be useful to have a "go to" project to rally around.
Arxiv.org is very successful for pre-prints, at least in some fields like computer science. Maybe a modern "journal" offering review and editing could be built on top of that? It would utilize open reviews instead of the traditional anonymous private reviews. Once a certain bar has been reached with reviews, the paper can be nominated for appearing in a journal, which editors can decide on.