Maybe, maybe not? It's just a matter of opinion. For example, I'd say our institutions aren't being overseen effectively when they let criminals who try to overturn lawful election results go unpunished. I would say our institutions
are effectively overseen with regards to classified information, partially due to personal experience, partially due to the FBI, DOJ, and National Archives who are investigating a breach of how those classified materials are handled. I'd say our election related institutions are not being overseen effectively. Governors and state legislatures in certain states are ignoring constitutionally mandated maps (like in Ohio) or are finding ways to make voting difficult.
When you go down this path, you're just stating your opinion about how things should be and trying to anchor that to an interpretation you have of what "we the people" means. That's ok, but the problem you run into is that it's wildly open to interpretation. For every "we the people' argument you make, someone can put forth any number of contradictory but equally correct arguments.