My first internship was like this. I loved it. It provided me with instant feedback on my code and as a result the quality of my code went from probably pretty low to as good as I could make it.

Having now worked at other places where code review is given low priority, I can say with confidence that I don't want to work anywhere that does not do serious code review.

Code review provides an important mentorship opportunity for junior programmers, and provides a simple way to keep code quality high and consistent. In addition, it provides a simple way to instruct new hires on internal style and conventions.