If there is that "way back," it might be the first time in human history that a "restoration" of a Republic will have ever occurred. It is historically more likely, IMNVHO, that the cycle will complete itself. Due to the tempo of modern life, the cycle may go one hell of a lot faster than it did for the empires of the classical European past.
Our ancestors spent the centuries between the coming to power of Julius Caesar and the collapse of the Byzantine Empire trying in "fits and starts," to somehow "restore" Republic of Rome, only to ultimately miss the goal.
What we are busily proving right now is that Democracy, all by itself, is the Tyranny of the Ignorant. The Founders knew this.
I can’t argue your take, as a matter of fact that’s the way I see not only the U.S. but the entire world going. The de-evolution of American society has been facilitated by the progressives for more than a century. The tipping point was probably reached with LBJ. Obama is a manifestation of progressive cultural decline. Although I will say if any society can beat the odds it would be ours. This great experiment is an anomaly and we may rise again.