Here is the crux. If during this time they also dismantle the checks and balances that allow a stable democracy to exist then they transition into chaos. Chaos creates a very convenient excuse to establish martial law. This is accelerated if the people rise up to protest the dismantling of democracy. Martial law leads to suspension of elections, ipso facto, the loss of democracy.
Agreed -- which will vastly accelerate the collapse of the US empire since everyone around the world will start diversifying away even faster. If this kind of scenario happens then USD hyperinflationary collapse is on the table.
The Heritage Foundation might get their Gilead LARP in the form of a hollowed out declining US whose young and high-skill people are pouring across the border in the 'out' direction. Meanwhile China is cracking AGI and fusion and landing on Mars with an improved clone of Starship built for 1/2 the price.