Our elections were never going to change things. Losing electoralism isn't great don't get me wrong but when the only people you can reasonably get elected are presented to you by the owning class it isn't a free election.
There is a reason we call so many problems "systemic"
I do think calling Capitalism's end stage as "oligarchy" gets in the way of depicting the very real tie to its eventual collapse that comes from this centralization, though.
Fascism is Capitalism in decay, it can't be stopped at the ballot box. I highly recommend reading theory, it can help make sense of our modern world. I made an intro to Marxism reading list that you can check out, the second work listed Blackshirts and Reds goes over the historical causes, aims, and reasons for fascism in the first chapter.