I never really thought about this when working in academia. I had peers shoot down work of mine, but I never considered them to be the ones I work for (ie. get me my paycheck) but there is a direct comparison there.
Unfortunately, the current system in academia of peer-reviews always felt awkward to me simply because you are not aligning self-interests. Any researcher in a field knows that by approving someone else's work, he is creating more competition for precious funds. Sure, a terrible boss can shoot down a good idea of yours for pride's sake/other reasons, but that would hurt the company in the long-run. At least when you are working for a boss in industry, your self-interests are aligned and you both are aiming for the same goal.
Unfortunately, the current system in academia of peer-reviews always felt awkward to me simply because you are not aligning self-interests. Any researcher in a field knows that by approving someone else's work, he is creating more competition for precious funds. Sure, a terrible boss can shoot down a good idea of yours for pride's sake/other reasons, but that would hurt the company in the long-run. At least when you are working for a boss in industry, your self-interests are aligned and you both are aiming for the same goal.