The problem with that arrangement is that it doesn't scale: a tiny number of popular critics become the gatekeepers. Success in the field then depends entirely on somehow gaining the notice -- and good reviews -- of one of these few critics.

Countless other pieces of art are never noticed by anyone, countless talented artists are forced into day jobs and eventually abandon art -- no matter how high quality (for whatever definition of "quality" you prefer) -- simply because they were not able to catch the attention of one of the elite critics, for a variety of reasons, almost all unrelated to the quality of the work itself.