Personally, I think the new Tory leader should have been picked directly by the whole party, i.e. with all 8 original hopefuls on the ballot. Party members who vote then put down their preferred 1st, 2nd, and third options, which are then used to prevent a tie breaker or lack of majority vote.

What we had, was still an elite few whittling down the options to a preferred two, with zero input from the party as a whole.