Crowd-Sourced Peer Review: Substitute or supplement for the current outdated system?

The problem with peer review today is that there is so much research being produced that there are not enough experts with enough time to peer-review it all. As we look to address this problem, issues of standards and hierarchy remain unsolved. Stevan Harnad wonders whether crowd-sourced peer review could match, exceed, or come close to the benchmark of the current system. He predicts crowdsourcing will indeed be able to provide a supplement to the classical system, hopefully improving efficiency and accuracy, but not a substitute for it.