You are correct that the Status Quo is wobbling badly and that barring radical reform will soon collapse and then transition to something else. The range of “what comes next”, though is wider than you indicate.
I’d suggest that possible outcomes might include; 1) neo-feudalism of the sort you describe — a hypertrophic version of Koch/Thiel “libertarianism”; 2) neo-fascism — that is state capitalism + nationalism + police state — pretty much the China model. We could emulate it; 3) a longer shot is neo-dark_ages a rejection of the program of modernism along with a retreat to religious fundamentalism and fanaticism and 4) chaos — probably underrated by many as a possible trajectory. Our society is built high in stacked levels abstraction. When the structure starts to collapse it has far to fall and no obvious means of recovery.
Seems to me the goal of good people should be towards the creation of a “fifth attractor’’ as an alternative to the 4 “bad attractors’ I enumerated above.
I discuss this possibility in my essay “In Search of the Fifth Attractor”