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It makes a lot more sense than selecting a leader based on whichever of the two political hacks selected by the establishment are regarded as the "lesser evil" by a plurality of those who show up on Election Day, as modified by a shadowy "Electoral College." Elections determine who was the most successful campaigner, not who is going to be the best at running the country. Monarchy of course does not guarantee that rulers will be good, but neither does any other system.

The system that America enjoys is based on checks and balances.

The elected officials didn't suddenly decide to run for the presidency with no prior experiences. The Ross Perot's are treated like an amusing sideshow and even then candidates like Perot and Forbes have proven themselves in the politics of business. America's Business is Business was already a famous quote. America's politicians start as mayors, congressmen or even a Attorney General.

Even if we had a Clinton that decided he wanted to be a King, if a bullet didn't find him in the next hour, Congress and the Senate would start legal proceedings.