I don't really care either way about performance reviews. I've found the difference between average and superior amounts to no more than 2% raise if that.
I base my own "performance review" on my skillset and what the market is paying. If the market is willing to pay me more than the company I'm working for - it's time to jump ship.
But I don't ignore performance reviews. I take them as constructive criticism. Even if they are "unfair", I assess what I could have done differently either technically or politically not to be in that position.
At some companies the difference in stock and bonus is a fuck ton of money. At Netflix the difference is also between being fired or not. Seriously, a Netflix HR person gave a public speech saying that they fire people for only average performance.
In the grand scheme of things. A minuscule number of developers work at a company where stock and bonuses are that big of a deal. In fact, when recruiters mention "bonuses" as part of compensation, I mostly ignore it. I've seen "bonuses" dangled in front of employees too often as an excuse for not giving raises and motivating people to put in 60+ hour work weeks.
I base my own "performance review" on my skillset and what the market is paying. If the market is willing to pay me more than the company I'm working for - it's time to jump ship.
But I don't ignore performance reviews. I take them as constructive criticism. Even if they are "unfair", I assess what I could have done differently either technically or politically not to be in that position.