Let me be blunt here for a moment:
1. Alternative Vote / Preferential Voting / Instant Run-Off are just goddamn awful, terrible and suck, suck, suck, suck.
2. As far as CFC-OT is concerned there is a substantial trend that anybody claiming the contrary is a (non-Kiwi) Anglospherian currently or previously exposed to simple FPTP election schemes (i.e. the only thing worse).
That's systematic.
Fundamentally instant run-offs are in terms of game theory all about voting
against candidates rather than for them. This is obviously a rather toxic affair by design.
The only reason it works so wonderfully well for Australians is that the people getting screwed by the system are the majority who end up ruling the country anyway, so it doesn't matter.
We can perfectly well observe the utter abomination that instant run-offs are, whenever they work according to their design and the bully
isn't the victim:
Yeah. That.
And then they are all
"oh, we're so racist!"
To which i would say:
"maybe, maybe not, but certainly too dumb for democracy".
Anyway, to be clear: Compared to AV having a multi-round election as the French do is outright superior and the Academy should do that too.
If one has to do coalition building for the sake of a single-seat election scheme (i.e. a presidency) doing it instantly, secretly, without conversation and campaigning and largely on gut feelz is roughly the worst way to go about it.