It doesn't seem like it needs to be that complicated, to me. Five people read it, if three or more think it's acceptable, it gets the official seal of approval. If not, the author can fix it up and try again, or agree to disagree. The five judges are random authors from the collective. Of course there will be a few errors (although it won't hurt to find and fix some of them), the reader just wants to know that it's not a total mess. And yes, you can often tell from a sample, but maybe the badge of awesomeness will make you look at the sample.
I'm not volunteering or anything.
