this only works when the company actually cares and allocates time to improve code quality. Not workable in companies where you are expected to add 2-3 features daily.
If they stick to it though, you're basically forced to reduce the feature's scope to the bare minimum. So instead of a "implement this form", you'd have tasks in the form of "implement this form field".
I don't know what situation you're in, but to me it sounds like they're steering towards giving little commitment and cheating the system to meet some arbitrary counter-productive productivity goal.
If you can't slow down enough to do that, or your stories are so large they require more attention, that might be a red flag situation? Writing code faster than you can review it will eventually catch up to the team/org.
Every company I have worked for in my 20 plus years has been a lead/architect/cto/boss and everyone reporting to that single person. Reviews when done take many weeks.