Great essay, I couldn’t agree more, thanks for posting.
As a Systems Engineer, I would caution the solution is not to try to build from the ground up, but from the top down, using formal systems engineering techniques normally reserved for big business and defence systems.
This way, we build downwards from the stakeholder requirements which must be met by the system. The environment is one. All people as a collective are another. The system has no shareholders, it must be non-profit. The system is publicly owned by all people.
One system which has been under design like this, addressing all of the concerns of your essay, for some time now is named VRENAR. So far, it has received no support from any financial backers other than myself, presumably because investors cannot see or understand the return on their investment.
So now, I am necessarily taking a step back from working 100% of my time on it, as I need to replenish finances from work which pays.
If backers could be found, the system could be built and implemented very quickly, and the world would be a very different place.