Performance reviews are often theatre, written in vague language, conducted as box-ticking. Some companies use them seriously; many don't. Either way, treating them as data rather than ritual usually advances your career faster than dismissing them.
What to do during the review
Bring documented wins file (specific accomplishments with metrics). Ask explicit questions: 'On a scale of 1-10, where am I against promotion criteria?' 'What's the gap I need to close to be in the top 10% in this role?' Specific questions get specific answers.
What to do with the answers
Document the conversation. Set concrete goals against the answers. Track progress quarterly, not annually. Bring evidence to next review showing the progress.
Most colleagues treat reviews as formalities. The few who treat them as data and act on the feedback distinguish themselves over years. Behaviour change after reviews is what makes them useful.