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You know the alternate name for ranked choice? Instant runoff.
In your opinion, why does making everyone come out a second time produce better results?
I don't like the idea of having to vote multiple times, but it's better than ranked choice, as with ranked you can get a person in that the majority of people didn't vote for. If you have multiple rounds of just one vote cast, at least you're picking the person you want each time, rather than 'i guess this person is better than person X, but i really don't want him in.
As I alluded to, this is what happened in Alberta politics - we had 3 candidates for conservative leadership: two were very polar, and one guy was in the middle, and thus the guy in the middle won, but no one really wanted him to win. Conversely, if they had just voted regularly, the guy that won would have been kicked out since voting for him wasn't an option. Then you could run the thing again, and get a better split between the polar candidates.
I think the ideal solution would be like selecting skills in an rpg. You get some number of points, say 10, and you can give as many or as few to each candidate as you want. If there's only one candidate you want you give them all your points, otherwise, you can do essentially the same thing as rank choice and give some to every candidate but different amounts
That way still ends up with candidates that you didn't vote for though, the ranked choice method means you always have a vote in each round.