I see the problem, but I think two things would happen. First, the grand electors (I like that term) would of course decide to do nothing instead of doing things that would lose them confidence. This can be a good and a bad thing as well. The other would be that those who do nothing would be forgotten and would gradually “bleed” electors until they dropped out of power entirely, and so would have to act in such a way that they renewed their base of support.
I don’t have any specific suggestions, but it’s an interesting concept. You may have stumbled upon a new “lesser evil.”
It’s not really new. It’s direct democracy with an instant run-off twist.
With a system like that in place there is still the problem of public ownership, but at least there is no political oligarchy stealing all of our rights. And we urgently need a plan to stop the politicians.