We need something else. But what?
My take? A viable 3rd party that can garner enough support in the congress to prevent either major party rom achieving a 51% majority. At least for starters, we do not want the Senate to kill the filibuster, thereby allowing the majority party to do as they please if they also hold the House and have a president that will accept whatever the Congress decides to do. On that day our democracy takes a huge step towards one-party rule; they assume power, do whatever they want and generally fuck things up and then get themselves voted out. The other party gets in, repeals what the last party did , does whatever they want instead, fucks things up, and ten gets themselves voted out. And so on.
What could break the cycle is a 3rd party with enough support and seats in Congress that requires some compromise and cooperation where none exists today. OK, almost none. IMHO, until that happens, we're fucked. Of course, IMHO that 3rd party should require some fiscal sanity and enough clout to prevent either of the 2 major parties from running wild. There was a group of politicians awhile back that came up with a compromise $1.5 trillion COVID Relief bill; I think we need at least one moderate political party that somewhat restrains the other 2 and basically forces some give and take. Doesn't have to have a presidential candidate at least to begin with, but considering the choices we've had over the past several elections, a reasonable candidate would be nice. But if the election gets thrown into the House then you want that 3rd party to be necessary for whoever ultimately becomes president.