As far as I know Consumer Reports is the only one that does this still. Consumer Reports is a nonprofit, and they're run like a media company. Their staff research and write the content, pretty well!
I don't think this would work for user-generated content -- who would pay to be able to write an anonymous review?
I do think user-generated content is necessary for job reviews; you can't buy the experience of being an employee off the shelf and subject it to objective tests, like with technology products.
Tech magazines used to do reviews (of gadgets), and they ain't free to read? at least, not the trustworthy ones.