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That's definitely what it turned into.
But it was originally designed with good intentions and actually initially it worked too, the problem with our democracy is that it's very old and no one ever updates it. Just look at the absolute mess that is copyright law.
The system was designed when there were loads of little parties, and they all had a fairly equal chance of winning an election. Then all the parties started to consolidate and we ended up with the three-party except it's really a two-party situation that we now find ourselves in. No one intentionally designed things like this it's just how things ended up. And now all the billionaires are taking advantage.
If we ever do change the system, whatever we replace it with, needs a stipulation somewhere that it will not be fit for purpose indefinitely, and it isn't intended to be a forever solution.
I dont see the issue as the political system alone. 30 years ago, everyone roughly knew where they stood and voted roughly equivalently, it was a boring peaceful time.
I blame the biased media largely for evangelising certain figures and giving others no voice.
I'd say we need a Fairness Doctrine type law more than we need a different voting system, but I'll happily take both