[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.