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Isn’t failing 4% of the time like a thousand million times better than our current failure rate of 100%?
Not really, because when RCV breaks, it breaks hard.
As in the person who would otherwise have won being eliminated in the first round of counting, and then the person who is actually elected being the last choice on a bunch of ballots because the ballots had been gutted down the middle.
Also, that 4% was padded out by a lot of elections where the third party was not viable in the first place. As soon as the third party is viable, then RCV just breaks due to the return of the Spoiler Effect.
It’s explained in too much detail here.
https://www.rangevoting.org/Monotone.html