Why there needs to be a viable third party instead of a "top two" system
Setting aside the fact that muzzling the two biggest parties with non-partisan type rules has the collateral effect of making third parties an endangered species, muzzling the offenders won't change their behavior, and it chills the First Amendment besides.
The beauty and strength of the first amendment is in allowing everyone their 15 minutes of fame. Yes, that has its downside too, but on balance we are a stronger, richer, nation because for the most part people get to say what they think.
But what has happened over the last century is that the Ds and Rs have found arguably legal yet highly pernicious ways (thanks to an ignorant supreme court that never has to stand for election) to make sure that they are the first ones to the podium, and they get to stay there the longest. The labyrinthian and oppressive campaign finance rules are Exhibit A to this fact. Nobody in third parties has the time or resources even to understand them, let alone form 501s and 527s to end-run them.
And so we are left with the Apple Cup on a grander scale. The red team calls the blue team a bunch of fags. The blue team yells the red team coach is an idiot. And they get away with it because they are the only game in town. Little do they realize that the bleachers are emptying because the fans are disgusted.
What the voters didn't realize was that I-872 destroyed the game as well as the teams. We don't need a free-for-all. We need a new game, one where more teams can have at least a fighting chance to win. When the Mets came to New York the Yankees improved their W/L ratio by about 50 points.