I'm in the same 6 nimmt situation as you. I've been to master several times and fallen, but I don't see that as a flaw in the system. ELO is great at what it does, which is to
calculate the probability that you'll beat another person. ELO is not designed to say that one person is better than another.
My ELO might fluctuate, but I can pretty consistently stay in the Expert range at 6 nimmt now. In more random games, you shouldn't look at your ELO at any specific point in time, but your average ELO over your most recent
n games. If that's going up, you're doing well. If you can consistently stay in expert and above for most of your games I'd say you're an expert player. Same with master. I don't think just getting to 2000 ELO once or even a few times means you're a master player.
Overall, I'm a fan of ELO. I don't feel that many other ranking systems are better than it.
THE BAD:
Titles
I do feel that a case can be made against how BGA treats titles. The ELO spread of different games varies a lot (generally the more luck-based a game, the smaller the spread). This means that with BGA's definitions of Expert, Master, etc. there are some games that have no masters, or even no experts (like Senet), while others have many.
Perhaps the fix here would be to decouple the titles from the ELO system. A Master could be top 1% of players in a specific game, expert top 10%, etc. However, I kind of like the current definitions just because they're static, so if I'm an expert one day I'm guaranteed to still be expert the next. Perhaps, then, the titles could be set to different ELO levels for each different game? But that's pretty messy. BGA's way of handling this might not the best, but I think it's okay.
I don't think this is a problem with ELO as a ranking system.
Stagnation
THE LONG TERM MASTERS OF 6 NIMMT ARE ALL INACTIVE.
ELO does have an issue with stagnation. The higher you get, the less you want to risk your position. But BGA makes sure that players can't just sit at the top forever. If a player remains inactive for a few months they disappear from the ratings. This is a slow process, but it means the top players must eventually play to stay at the top.
Being at the top does not mean people no longer play games, or that they can no longer play with new players. Just play with ELO off. I see this all the time in games like Race for the Galaxy. If you want to have some fun with new players go teach a game to people in the Game Tutors group. You can get large groups of players to play there with ELO off.
Conclusion
I'm not really sure what you want to replace ELO with. It seems like your gripe is more with earning a title and then having it disappear again. Maybe you want it so that once you've hit master once, you always have that title? But there are some issues with that.
Perhaps you want it so that ratings change less the more games you play. But then leader boards become harder to move up/down. I'd rather have the potential to gain a lot of ELO quickly than have to progress up or down by a few ELO points each game. It's more exciting, and makes those wins so much nicer.
The more luck-based a game, the more you have to look at average ELO's over many games, and that's the way it should be.
I would strongly encourage the developers on this site to get some player feedback from the consistent players on this site as a beginning to redraw a system which is more sound and is fairer towards honest gamers who play without playing the system and just are solid excellent players, etc.
Consider me a solid supporter of the ELO rating system. Titles could maybe use some changes.