I think I broadly agree with you here. Democracy does seem like a necessary evil. But I think that could still mean that we should adjust some of its principles.
First past the post voting really doesn’t work. It polarizes the candidates. Something like Ranked Choice Voting could be a viable alternative. Likewise, funding for campaigns should have a limit given by the respective governments. There’s a lot of possibilities here to adjust the system. You touch on some key ideological frameworks as well that are helpful.
And the view you present is for the most part what I hear from people when I discuss these issues in person. People are frustrated with some of demoracy’s flaws and they really want to see some adjustments made.