And there are other ways to bring the quality up. This can work. In some shops, however, reviews are cut back when the going gets tough, just when you need them most. Another common experience with reviews is that the programmer sometimes skimps on making the recommended changes. His attention is elsewhere, his priorities are elsewhere.
Code reviews are expensive.
They involve several programmers, not just two, looking at the reviewed code. They involve multi-person meetings, which take time away from programming. Pair programming, by all accounts, makes the coding go better and faster. Reviews surely make the code better, but they may not make it go faster. Education Pairing also educates.