The problem with an endorsement scheme is citation rings, ie groups of people who artificially inflate the perceived value of some line of work by citing each other. This is a problem even now, but it is kept in check by the fact that authors do not usually have any control over who reviews their paper. Indeed, in my area, reviews are double blind, and despite claims that “you can tell who wrote this anyway” research done by several chairs in our SIG suggests that this is very much not the case.

Fundamentally, we want research that offers something new (“what did we learn?”) and presents it in a way that at least plausibly has a chance of becoming generalizable knowledge. You call it gate-keeping, but I call it keeping published science high-quality.