And don't take my apparent support of aristocracy and condemnation of the democratic process too seriously either ;~D Of course we could support Aragorn as King... He came by it through hard work and heroism (and he is good lookin')... But his kids would be horrid spoiled heirs that would need to be overthrown.
A brief comment on the Democracy vs Aristocracy thing, not to get too heavy. In the known 4000 years of world history, democracies existed in some of the city states of Greece for part of the two hundred years from about 500 BC to 350 BC, and in some other states, including Rome, up to the last part of the first century BC. Since then, with minor exceptions (Iceland, Switzerland), free republics have existed only in much of the western world, starting with the US at the end of the 18th century, and spreading to include most western countries. In recent decades freedom has become ever more limited in most of these countries, and now we see increasing restrictions on both the first and second amendments to our constitution, among others.
In the past the change from republic to monarchy has been occasioned by invasion (e.g. the Germanic invasions of the Roman Empire), civil war between social classes (e.g. the Greek city-states), and by people demanding safety and subsidies from their political leaders (e.g. Rome). The change from monarchy to stable republic has only come when people are willing to restrict the state and keep it weak.
It seems to me that it has been demonstrated that autocracies are the natural form of government for all but the most virtuous and self-restrained peoples, a category that no longer includes the citizens of our country. For the rest, the Ring of Power will come to Rule Them All.
/End of Rant.
As benevolent dictators go, Aragorn would certainly be my first choice of characters as well...but what makes you think that Aragorn and Arwen would allow their kids to grow up spoiled?