This works well in situations where the cost of a mistake is low and reversible. But often in software the cost is accumulating technical debt that will rarely, if ever, be paid off and driving a potentially successful project to the ground. I don't believe you can have a successful software team with individuals who can't take a code review well.
Edit: That being said, there are definitely tactful ways to deliver a code review. I also don't believe you can have a successful software team with individuals who can't give a code review respectfully.
Edit: That being said, there are definitely tactful ways to deliver a code review. I also don't believe you can have a successful software team with individuals who can't give a code review respectfully.