From the article - "They argue that the current journal system slows down the publication of science research. Peer review rarely takes less than a month, and journals often ask for papers to be rewritten or new analysis undertaken, which stretches out publication for half a year or more. While quality control is necessary, thanks to the Internet, articles don’t need to be in a final form before they appear. ... “We want to go after peer review,” CEO Toni Gemayel told us."
And I am saying, quality control is essential, and yet an open internet-based process would mean a lot of people with pet theories they want to drive could game the system. I agree with the poster who wrote that you need to take into consideration the author and his caliber even in scientific journals -- the quality control problem is a problem already today really -- but the effort necessary to get an article to publication raises the quality somewhat (and in turn prestige of relevant journals).