1) Catch edge use case / business requirements misunderstandings
2) Mentor new hires/junior engineers on the ways things should be done (e.g. internal culture about some architecture/design).
BUT, I absolutely despise code reviews that nitpick on non documented or 'because I prefer that way' stuff:
1) Task tickets that only have a vague description, have their own 'play detective' about the requirements, but a lot of new ones surface during code review.
2) Requirements are met, but there are internal/personal technical directives that are written nowhere, are not enforced with automated checks and may dramatically change a feature/patch is implemented (I can only think about that guy that worked in a company in which only LEFT JOIN sql statements were allowed).
Fuck that noise.
Or are you saying that one can actually find more bugs when two people compile and execute the same code rather than just one?
When I review code, I want the author to tell me how they have verified that the code has the desired effect -- but if they do that, I'm going to trust that they did the actual verification and I'm not going to simply retrace their steps. That seems like a waste of time to me.