[losteric]

This seems like an over correction for bad management. A good yearly review should be a quick unsurprising formality because everyone was openly communicating the entire year.

To stretch your analogy... if your spouse doesn't tell you they hate your cooking, that's the real problem: trust and communication. Asking them for feedback after every meal won't help resolve the real problem.

[ordinaryperson]

You're right, a good yearly review should be a boring summary of everything you already know.

But often, it's not.

A lot of colleagues and managers are too timid to provide timely feedback, they think they need a formal moment like an annual review to speak up.

Do you believe every single employee and manager has the skillset you describe to be open, honest and trustworthy? If not, then having a system to help shepherd feedback isn't a bad idea.