What About Peer Review?

So what about peer review? Well for most I think it's a very great way to realize what mistakes you made or ideas that are missing to your paper. I strongly agree that this method is effective upon writers because it helps us be comfortable listening to opinions from people that you are most comfortable with. Can this be improved? I don't quite think this should be improved because I don't think there is something that may have a bad outcome. But if anythig I would just suggest more time reviewing with peers bc one or 2 days can't kill all the reviewed material.
As a peer reviewer I find that I can strongly identify mistakes within reading my peers paper and I can automatically add various opinions as well. If I have a weakness upon reviewing; I don't think so. When I review a peers paper the first thing that I do is read the whole paper, next I retread again and then I go into detail with my peer and tell them what I think about their paper. After, I tell them what I think needs to be improved and I give them my opinion on what could be added. That's typically my peer review process.