So an oligarchy of a few 100 people is preferable, where they have the right expertise, each one can correct the error of the others,and nobody can become a monarch
Really? You want to impose an oligarchy? Oligarchy is an authoritarian power structure in which power effectively rests with a small number of people. That's what you're advocating right now. One stop short of a full-blown dictatorship.
The majority of people would abandon this space in a heartbeat if that's what Bitcoin ever became. Your oligarchy would have full control over a completely worthless coin. Just like Ripple.
Seriously, fuck that.