Feedback from supervisors and feedback from reviewers is what the current system is mostly based on. We're currently in a mostly-feedback system but it's disorganised, poorly standardised feedback and the feedback tends to end a very short time after publication.
Some of the better journals operate blinded reviews so that in theory "anybody" should be able to publish a paper if the quality is good and that's a good thing.
COMPare implies that preregistration didn't solve all the problems but other studies have shown that it has massively improved matters.
John Ioannidis has written a very insightful and entertaining article about the current state of the movement which calls itself "Evidence-Based Medicine". The paper is available ahead of print at http://www.jclinepi.com/article/S0895-4356(16)00147-5/pdf.
As far as I can tell there is currently no paywall, that may change later, send me an e-mail if you are unable to access it.
Retractionwatch interviews John about the paper here: http://retractionwatch.com/2016/03/16/evidence-based-medicine-has-been-hijacked-a-confession-from-john-ioannidis/
(Full disclosure: John Ioannidis is a co-director of the Meta-Research Innovation Center at Stanford (METRICS), where I am an employee. I am posting this not in an effort to promote METRICS, but because I believe the links will be of interest to the community)