I think yes. There are no more absolute monarchy in Westeros , and King will be choosen among smart men. The North became independent

Not really. Because there are no clear rules for succession the lords will plot and scheme even more to win the throne. Bran is only a cripple, there is no guarantee that someone will not try to take the throne by force again.

Well yes. It's a democracy now. You don't just have to be born in the right family to become King, you have to be chosen by the people. So people like Joffrey or Cersei won't be monarchs anymore.

Essentially their whole political scene has changed.

There will be problems and conflict but there has been change within their core understanding of politics.

Agreed.

It's not a democracy and it's still an absolute monarchy - the monarch, once elected, has absolute power and their authority is not restricted by any written laws or legislature

Maybe I'm just cynical, but I agree with simrananime in that an elective monarchy may actually increase scheming, plotting and bribing. The election system will probably see future lords putting weak puppets on the throne who won't interfere with them. It's basically the sytem of the Byzantium and the Roman Empire, which were faced with similar problems (and ultimately contributed to their collapse). And what happens when this group of ~10 lords strongly disagree with each other? Ironborn and Dornish revolts within a few generations are honestly not unlikely.

On the other hand, some cautious optimism: perhaps they've planted the seeds that could lead to incremental limitations on the monarchy and the rise of a House of Laws, remiscent of English history. The lords of Westeros were right to laugh at the idea of a modern liberal democracy (well, right but for the wrong reasons) because it's completely unrealistic in a setting where most people aren't really educated beyond their trade and literacy is severely limited. Even if they gain a constitutional or limited monarchy, it would still takes centuries to go from those ideas to a genuine parliamentary/republican democracy, and several hundred more to go from that to a contemporary form of liberal democracy with universal suffrage regardless of gender, class, or ethnicity.

But honestly I think they've just opened the door for a different Game of Thrones: win the favour of a few select lords and you win throne, or just have one house bribe/threaten the others. IMO the wheel wasn't broken at all - it was just slightly damaged, then repaired, and now it’s spinning again.

To everyone : Define "the wheel ".

Elected Monarchy is the first step towards Democracy; that’s pretty much exactly how it went down in England and slowly the Monarchy faced more and more restrictions while more and more common folk got a right to vote. It’s not quite there yet, but the first major step towards breaking the wheel has certainly occurred.

How on earth do people expect democracy to magically happen overnight?