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.
But your picture is not accurate either. You cannot seriously compare the hard-forking mechanism as equivalent to a democratic system. It's an emergency feature, i.e BREAK CONSENSUS IN CASE OF EMERGENCY type of device. By telling people it's a democracy, you're encouraging the entitlement that lay-people should be making design decisions. They should not.
If Bitcoin development got infiltrated by crazies wanting to introduce ID tracking or permanent inflation, sure, break the glass and sound the alarm. And isn't it obvious that people trolling Bitcoin are always going to be claiming that it's time for the emergency split? Be careful what you wish for when promoting Bitcoin hard-forks as a democratic mechanism, that is an abuse of the system.