I'd take the favor of a handful of highly-qualified specialists in the field (conventional peer-review) over a million 'likes' on facebook any day. And this is coming from someone who agrees the traditional system is deeply flawed.

Something like PLoS' model is more reasonable: Publish based on the quality of the research, not the impact of the findings. Don't impose artificial 'page limits' on the number of papers that can be published per issue. Encourage open access to everyone. Make it mandatory to release all experimental data and software that is needed to reproduce the results of the paper. At the same time, encourage a fair and balanced peer-review process.

I've never published in PLoS, by the way, but I will probably be sending my next papers to them.