To be honest, I also don't see the issue of having one person run the election in practice, even if it's technically two people plus an observer. So long as it works and we can have faith that the election is conducted fairly (which, as far as I can tell, has been the case so far), it should be fine.

Really, the only improvement I could actually think of is to have private votes be posted publicly (anonymized). TNP has an interesting system that we could look at for inspiration. And even so, that's very much a nice-to-have at best.