It isn't just about replacing the system, because as you say it works for the people that stand to benefit the most from it. A better replacement can never emerge until we have reprogrammed the culture of maximization and "efficiency" that has been allowed to fester.

I don't claim to know what a replacement would look like, but I personally think it would hold 'servant leadership' as a primary tenet, and destroy the notion of shareholder primacy, and have some sort of increasing level of entropy that scales as the business does, to the point where large companies are simply unsustainable for all but the most important of endeavors.