You're right about one thing: we are utterly destroying this Republic, to the point that it is unsalvageable, FOR NO FUCKING GOOD OR SANE REASON AT ALL. If we were desperately poor and starving, I can see desperate people doing desperate things. And while we have created pretty staggering economic inequality (and wow....opting for a path that says "and let's ACCELERATE that, and create a world of billionaire oligarchs and slaves" is...a choice), we are self-immolating for no good reason at all. We just like hating other people and blaming them for everything, even things that aren't a problem (sorry, fuckheads, a trans high school volleyball player in Oregon is meaningless).
But you're wrong about something similar occurring. It IS occurring. It's not just happening, it's done. Every failsafe has already failed. The damage is done. Now, we just wait for the final collapse. It will happen as these things always do: gradually, then all at once.