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 George Washington not taking up the mantle of king was the biggest mistake in US history. 
 You realize that America's elected monarchs have far more power than the monarchs of England ever did, right? Perhaps it's best such power is not granted for life. But the Deep State abides, and the presidential residuum of power increases from one office-holder to the next... 
 There is an enormous and ever-increasing amount of potential power in the US presidency

There is a tiny and ever-decreasing amount of actual power

A president could realize that potential, which will be called fascism, dictatorship, etc - despite being perfectly Constitutional