I disagree that the existence of the Electoral College or the bicameral Congress is the main thing that is wrong with the current system. It is not unreasonable to have institutional mechanisms to prevent mob rule. The main problem is that, if you read the enumerated powers and examine the context in which they were written, it is clear the US was always intended to be a plutocracy of industrialists, merchants, landlords, and bankers.
The Constitution was a coup against the far more libertarian, populist, and democratic Articles of Confederation. Historic documents and the lives of historic figures have to be interpreted within the context of their times. But still…enough with the parchment worship. See Voltairine de Cleyre’s “Anarchism and American Traditions.”