After it passes review and all stages of testing it's everyone's bug.

Exactly. You don't just do code reviews and run tests to catch bugs. You also do code reviews and run tests so that, when something does slip through, it's no one person's fault.

... and this everyone's responsibility.

Makes total sense. It's almost as if everyone at a company should be on the same team :)

It's not nice to see a company get wrecked but sounds like they were asking for it

Strongly concur