Honestly, I don't like opinions like this. That's just passing off the work that needs to be done to fix these problems. It wasn't even a hundred years ago when people published more in the open and the publish or perish paradigm didn't exist. The latter is a relatively tool, and collapsed because Goodhart's Law.
We can make the changes, but not with defeatist attitudes.
But even from this experiment we can see that there are people actively trying the fix the situation. Likely naive, but something is better than nothing. I wish there would be more push for ACs and Meta Reviewers having the highest standards, but this is where we are.
I am totally for us abandoning journals and conferences and just publishing to arxiv and open review. This is exactly what I would do if I was independently wealthy and could research without the constraints that I am in. But we also need to recognize the issues with this and that popularity and outreach ability greatly affect perceptions of quality of the paper. That this is not meritocratic.