Skipping code reviews and the bugs it causes can be a problem, or it can be easily solvable later when the bugs are found. It varies a lot.

Skipping code reviews and the poor code that can happen because nobody took a second look - that's more of a problem. Because 6-12 months down the line, there's not a few bugs that need to be fixed. Instead, there's a horrible code base that causes all _future_ development to be a lot slower.