It's not like there are a bunch of dedicated reviewers, it's always other researchers who review. I don't think some of the most valued papers like MapReduce or BigTable would be reviewed in just a day or two. It's just not a reasonable amount of time in any condition in terms of reviewing research papers.
IRB approval for study designs, yes, admin submission of grants, yes, but never an authorization that the results and manuscript could be submitted to a journal or conference
What you’re describing in this comment sounds like a consortium. These often an embargo on publication of independent manuscripts until the primary paper(s) have been published. However, once the data’s out, each investigator is free to publish whatever secondary analysis they like.
I understood the Google process to be an _administrative_ approval, based on the conclusions of the paper and unrelated to the quality of the science. This I have never heard of at an academic institution. The final call that a manuscript is ready for publication has always been made by the corresponding/senior authors, not admin.