As I said, my preference is threads by state or by major contest. You have your own preference and are free to have it.
Anyhow...we've both been around here a long time, so the "the way it's always been done" doesn't carry much weight for me. Fact is, on election night, it's been done a lot of different ways here on FR over the years.
There's always been one main thread with some other little ones following behind it (like chihuahuas chasing a mastiff).
Disjointed is not better.
It may not be user friendly for some - got to be quick on the keys to keep up, I reckon