The idea I had for community based reviews is simple:
On sites like Forum Promotion we have a review "team". Those sorts of sites see a large turnover of their volunteer staff base because they feel compelled to do things that they don't necessarily want to.
To that end, I thought that having the community review things that they *want* to review might be ideal. I mean, there's no requirement here that you review anything, and everyone's expectations of a site are different, so maybe it's better to get multiple opinions.
To that end, I agree with there being no "rank" for the review team. Everyone's review holds the same amount of water, and my review is not higher than any members. I'm a contributor only - I'm not a moderator that wants to take action on anything he sees.