We (speaking as a U.S. person) need to do away with the electoral college and first-past-the-post voting not because popular vote and a better election system are nice-to-have features, but because our current system paints a giant target on the political process we all rely on to ensure accountability. When the outcome of presidential elections depends on a few hundred or thousand voters in one or a few of Florida/Ohio/Michigan/Pennsylvania/Wisconsin, that's a systemic vulnerability.
There are active exploits in the wild; this is less a matter of instituting reforms to make things a little bit better and more a matter of adapting to new threats in order to reduce the risk of a systemic collapse.
Other exploitable vulnerabilities in our democratic process that have been weaponized to varying degrees include: Winner-take-all primary states (on the R side), superdelegates (on the D side), gerrymandering, Congressional procedural abuse (like the filibuster in the Senate, or refusing to vote on popular measures if it's opposed by a majority of the majority in the House), congressional gridlock, and sloppy campaign finance regulations.