How about we try keeping big money out of politics and using ranked preference voting before we declare democracy obsolete? People have been studying that stuff.
I think they're talking about the flaws in presidential democracies. Not democracy itself. Parliamentary democracies are supposed to be a better design.
If you ask most voters they'll say big money in politics is bad but if they know that why aren't they voting the issue?
What is the money doing that the voter can't overcome?
How about, before we try to keep "big money" out of politics and adopt ranked preference voting, we ban ill educated people and ban voting yourself other people's stuff. Voting is not a survival skill, it's a civic obligation.
FWIW most experts now favor approval voting [1] over ranked choice. Approval voting has similar advantages as ranked choice in allowing 3rd-party candidates and favoring moderate candidates. It avoids the chaotic behavior that RCV can exhibit [2] where shifts in the order of voters' down-ballot preferences can very significantly alter the outcome of the election [3]. And it's also much easier to explain to voters ("It's like voting today, except you vote for everybody you'd find acceptable and the best candidate wins. Sorta like when you're picking a restaurant to go out to with friends - you go to the place that is acceptable to the greatest number of people, not the one that a minority really want to go to"), doesn't require that you reprint ballots (you can re-use normal FPTP ballots, but you just count all votes instead of disqualifying ballots with multiple candidates marked), and is easily adapted to proportional representation and multi-member elections (you just take the top-N best candidates instead of the top-1).
[1] https://en.wikipedia.org/wiki/Approval_voting
[2] http://zesty.ca/voting/sim/
[3] https://www.reddit.com/r/explainlikeimfive/comments/1o1byqi/...