What we needed was a new voting system for witnesses, in addition to a way that would allow the value of the vote to decay overtime to deal with inactive users.

Totally agree. Perhaps some scheme, not unlike many democracies around the world, needs to be employed. A second House of sorts? Perhaps have it that the top 20 witnesses decide what new HFs are to be considered by installation of the new HF by 17+ of the top 20 witneses yet the new HF would only come into effect if 51% of all witnesses install it.

Just something off the top of my head.