For ICLR reviewers were asked to review 5 papers in two weeks. Unpaid voluntary work in addition to their normal teaching, supervision, meetings, and other research duties. It's just not possible to understand and thoroughly review each paper even for topic experts. If you want to compare peer review to coding, it's more like "no syntax errors, code still compiles" rather than pr review.

I really like what IJCAI is doing to pay reviewers to do this work, with the $100 fee from authors

Yeah its insane the workload reviewers are faced with + being an author who gets a review from a novice