The failure mode of all voting system with central control is that the elite take over the most important part of the system: what is actually voted on. This wi

The failure mode of all voting system with central control is that the elite take over the most important part of the system: what is actually voted on. This will happen in a futarchy just as it happens in democracy. The end result will be, I'd predict, indistinguishable. Only societies without strong centralization and with incentives on the elites that stand opposed to collusion have the promise to evade what happens to democracies. An example is that which prevailed for a fair time in Medieval Iceland, but there are few others: the opening society of the US gave way to growing centralization pretty quickly, and the original vision didn't last much past two generations. There were not strong enough incentives to prevent collusion of the elites against the masses.