Rather than dismantling USAID it should have been reformed. The U.S. should have a single point of foreign aid, but that aid should be highly structured, audited, and at least a few legal constraints that cannot be adjusted or reinterpreted by future generations.
I agree, at this point it does seem like there was enormous fraud at USAID and some very bad behavior. I can only deduce that the reason why it stayed hidden for so long was that, politically, if not economically, everyone with something to lose was benefiting.