I go back to my original metaphor: you don't amputate to fix the bandaid.
American DID have a thorough experience with a monarchy, - and rightly, soundly, totally rejected it. And so long as the free people retain their arms - which is the true reason why Hillary said we "should look at" Australia, we will NEVER be subjected to a monarchy - hereditary or otherwise - ever again. Only utter fools forget the lessons for which honest men and women paid in blood with their lives. If we do, we are unworthy and betray them.
The framers of the Constitution understood better than most the axiom it took another century later for Acton to articulate: power corrupts; absolute power corrupts absolutely. They then did a brilliant trailblazing into a self-checking tripartite-structured republic, it has soundly stood the test of time, it suffers corruptions unknown even to this day from within and endures. Our problems do NOT come from structure, they come from the fact that others - corporations, overseas states - see this large powerful nation, whose success comes from its freedoms alone, as a cool tool and want to manipulate it for their own selfish ends. If we were - god forbid - subject to a monarchy, we would suffer the same problems, only instead in the form of parliamentary backbenching and ministerial jockeying.
Those who forget this costly lesson need to think on Churchill's aphorism on democracy: it's the worst system in the world - except for everything else. May we never foolishly forget.