I missed this important statement from cOAlition S back in June:

Scientific publishing is evolving rapidly. A number of initiatives have moved away from the notion that peer-reviewed articles must be published in traditional Open Access journals or platforms. They provide peer review services that are entirely independent from such journals or platforms. These include Peer Community in (PCI), Sciety, Next Generation Repositories, Notify Project, PREreview, and Review Commons, to name a few. These initiatives give the author the freedom to decide how and when to disseminate their peer-reviewed article.

The explicit point is to help break the journal prestige economy:

In light of the accelerating development of these journal-independent peer-review services, cOAlition S would like to explicitly state that ‘peer reviewed publications’ – defined here as scholarly papers that have been subject to a journal-independent standard peer review process with an implicit or explicit validation– are considered by most cOAlition S organisations to be of equivalent merit and status as peer-reviewed publications that are published in a recognised journal or on a platform.