tl;dr: I don't want to delete such answers (I want to downvote them) but I also can't press the "nothing is wrong" button with a clear conscience if I know the answer is literally wrong.
According to When should I delete an answer?, answers that are earnest attempts at an explanation, but that are technically incorrect, should be downvoted but not deleted.
Low quality posts review violates this policy.
There are 4 options while reviewing a low quality posts: "Looks OK", "Edit", "Delete", "Skip".
I often find that an answer is ok from a moderation point of view but it might be a wrong answer i.e., the answer should be downvoted (with an optional comment) but otherwise it should be left along.
None of the current options fit in this case:
"Looks OK" is defined as "nothing is wrong with this answer" (it is the direct quote from the review page). It shouldn't be used if the answer is wrong.
"Edit" -- edits shouldn't change author's intent and therefore a wrong answer shouldn't be edited (a new correct answer should be posted instead)
"Delete" -- I don't want to delete. Wrong solutions have value if they are clearly marked as such
"Skip" implies that "I don't know" but I do know that the answer is technically incorrect but otherwise is OK
What's more, these users are presented with the choice in a way that stongly encourages them to vote for deletion, in that the only alternatives (apart from "don't know") is "looks good" and "edit it to look good". This suggests to users that if they understand the question and the answer (and so "don't know" is not right), there is no middle ground between answers that "look good" (or can be made to do so) and answers that ought to be deleted. In effect the UI is suggesting that unless the user would upvote the answer, he should vote for deletion -- even though the vote is presented to him as a "recommendation". emphasis is mine
Posts related to allowing upvoting/downvoting in this context:
- Why is voting removed from new review system?
- (Up)Voting on Low-Quality Posts in Review tasks
- Add downvote option to Low Quality Review Queue list of potential actions
Here's a very similar discussion Rename "Looks Good" or add a "Looks OK, just Incorrect" in Low Quality Question Review
My suggestion: allow Upvote/Downvote in addition to "Looks OK" button or rename it to "Keep it".