Unless im missing something, you will lose republican tradition too quickly to re-elect them on a constant basis? Unless theres some trick to easily getting tons of republican tradition. The +1 random candidate bonus seems like a better deal.
You lose 2.5 republican tradition per election cycle year. So with 4 year elections you lose 10 republican tradition per election and with 3 year elections you lose 7.5 republican tradition. So if you always reelect you will lose the same amount of republican tradition per year, no matter how long your election cycle is. But with shorter election cycles you will gain much more monarch points from the higher ruler stats and from the 50 extra points upon reelection. And you can buy 3 republican tradition with 100 mil points directly and you often get events which offer you republican tradition in exchange for something else. If you only use mil points to get additional republican tradition you need to do that on average every two years, because you lose 1.5 republican tradition per year(2.5 from reelection, but you gain 1 per year per default). This costs 100/24=4.16 monarch points per month.
So let's compare always electing a new 4/1/1 to reelecting the 4/1/1 every three years till he dies:
The first election doesn't cost republican tradition, but you gain 1/year. The next election costs you 7.5 RT but you gain another 3 RT during the cycle. In addition to the 3 RT from the first cycle, you only lose 1.5 which costs you 50 mil points and you gained 3*12*1=36 points because the ruler generates 1 more mil point. So after 6 years you lost 50-36=14 mil points. The next cycle(third) you lose 7.5-3=4.5 RT which costs 150 mil points and you gain 3*12*2=72 mil points so you lost 78 mil points. Together with the 14 from the first two cycles, you lost 92 mil points. In the fourth cycle you gain 3*12*3=108 mil points, so you lost 42 mil points(134 in total). In the fifth cycle you gain 3*12*4=144 points, so that you only lose 6 points(140 in total). In the sixth cycle you gain 3*12*5=180 points, so you gain 30 points(110 lost in total). Now you have a 6/6/6 ruler and each additional cycle will gain you 30 more mil points. And on average every third cycle will give you 50 more mil points from the reelection. That are already 100 points after the seventh cycle. So you gained more mil points after 7 cycles which are 21 years. And this is the worst case scenario in which no event gave additional RT. Usually you break even in mil points much faster. And mil points are often less important than the other monarch points. During this seven cycles you also gain 3*12+3*12*2*5+100=496 admin points and 3*12+3*12*2+3*12*3+3*12*4+3*12*4+3*12*5*2+100=964 dip points compared to always electing a new ruler.
Of course the Political Dynasties with the +1 random candidate bonus is also a good reform and it doesn't conflict with the Frequent Elections, because it is in another tier. And the Political dynasties gives you the option to elect a 30 years old nephew when your ruler dies(you have the nephew also when your ruler didn't die, but then the age is between 30 and 50). The nephew often has worse stats and it costs some RT, but you can reelect him more often till he dies.
