Yes, change is necessary & inevitable. You define "institutional structure" as 'accepted practice as well as large-scale organizations' & group them all as structural. I think they might be better considered separately.
The core institutions, common to all nation-states, are: executive, judiciary & legislature. (Listed in order of evolutionary separation.) Their independence is known as 'separation of powers'. It is the degree or lack of separation that most fundamentally distinguishes one nation-state from another.
In US, all three must be reformed: executive has too much power, judiciary is politically appointed ('though fortunately often disloyal to its patrons), legislature is captured & paralysed. Electoral system(s) fail to approximate popular preference for executive & legislature, so all three have disfunctional systems of appointment.
These institutions must be retained, but relations between them are among required reforms.
Other large-scale organisations you list must also be retained or achieved: rule of law, liberty (the J S Mill definition), 'democratic' process, separation of powers, markets & stable money. All nation-states develop these, always partially & unevenly. In US, all are compromised.
Accepted practice, & legislation that permits, limits or proscribes it, is where reform could forestall revolution. Could... but is unlikely to do so because US' legislature is not democratically appointed & is thoroughly captured. Stalemate makes collapse &/or revolution inevitable.
Your sound economic proposals face the same impasse. It is not that they would not work; they would. No viable institutional processes remain capable of assessing & adopting them.
This is not all bad. US hegemony is passing into history. Nation-states that have had power & lost it (UK, France), or those that have sought & failed to gain it (Germany, Japan) in the last two or three centuries have experienced transformative upheaval with demonstrable benefit. US will probably follow.
China rising is being formed by the same political forces that shaped its predecessors. Its elites will experience the same curse of power & judgements of history.