There are hundreds of law journals (every law school has at least one). Most of them are edited by law students.
But, you can submit your manuscript to as many as you want simultaneously, so none of this interminable waiting for one journal at a time to decide on your paper (unless you want to submit to one at a time). And there's a submission service for doing it.
You pay $2 for each journal you submit your paper to. I suppose if you submit your paper to 100 journals, that two bucks might start to get onerous, but if it's just a handful of journals, not so much. It takes so much time to upload a paper and fill out the online forms and all that jazz, it might just be worth two bucks to not have to do that multiple times.
Now, I'm not saying that it would be better to have hundreds of philosophy journals (anyway, law schools have money that philosophy departments don't). I did once suggest that using selectively chosen, qualified grad students as reviewers might not be a bad idea, if the current pool of willing peer reviewers is too small for the demand. But would a system like this work for philosophy papers? Would it be an improvement over the current system? Being able to submit to multiple journals simultaneously sounds pretty appealing, but it would (I guess) require a larger pool of reviewers.