I don't agree with this at all. Code review is obviously a huge benefit once you have enough money to pay more than one engineer per gigantic slice of the codebase.

I'd say code review is also great if everyone is working on the same thing, such as a library. In that case I'd do code review if there were only two people working on the project. But when one guy is basically just doing react boilerplate and implementing designs, it's not worth the time to check every commit they make.