> the collapse of publicly funded science

This is preposterous. You are completely forgetting that there are actual groups of humans, people who know and respect each other, coming together and discussing the proposals.

Being involved in ranking grant applications is already a thankless job, and many scientists still do it, for the greater good if you want. They will therefore also critically look at any AI reviews, and eliminate them as soon as they are not convincing.

(I am, of course, not saying that the grant review process is without flaws - that is a different discussion.)