Unless you work for a FAANG, in fintech, or some other company where raises and bonuses are a real thing these reviews tend to be useless.

A lot of managers are busy and just throw something together at the last minute, subordinates realize the process is just a formality and stop putting much effort into it as time goes on, etc. Sometimes these meetings are actually counter productive because you end up arguing for a tiny slice of the bonus pie having to "sell" yourself to an individual who knows well what you have contributed. I have witnessed multiple people quitting shortly after feeling underappeciated in a performance review.