"considering it started almost four hundred years ago, is it not time for a new and better idea"

Not nless an actual better idea comes along.

There is a similar chronology of the end of feudalism throughout Europe, caused by freer markets and trade of new products coming in from asia, which made a new class of wealthy people. It made people leave feudal lands from the promise of a better life where they could participate in trade.

There are long discussions to be had about "something better", but almost always they fail, because the quick and easy answer is "the state should.....", which is also the starting point of failure.

Technology and the facilitation fo localized services and products is what will be better for humans, but it will still be capitalism. Under capitalism, people can still form their own nations, their own communes,, but the backdrop will still be capitalism.