Completely disagree. I catch bugs, and have my bugs caught, at least a few times a month.
Beyond the "this will likely deadlock without a timeout", "this does not clean up after itself on exception", "if the cache is not hot, this operation you assume is 1 sec will take 1 min" type thing — one of the strongest points of code review is having a conversation about "this code is hard to understand" and turning code that's correct if you think about it really hard into obviously correct code.
It takes a reasonably strong reviewer to get there though, and that's not always possible.
Beyond the "this will likely deadlock without a timeout", "this does not clean up after itself on exception", "if the cache is not hot, this operation you assume is 1 sec will take 1 min" type thing — one of the strongest points of code review is having a conversation about "this code is hard to understand" and turning code that's correct if you think about it really hard into obviously correct code.
It takes a reasonably strong reviewer to get there though, and that's not always possible.