Oligarchy is rule by an elite. I our world that tends to be rule by billionaires who do not bother with managing the society but simply buy politicians who ensure maintain a pretense of public interest but vote consistently to deliver revenue to their owners.
Joe Biden played both sides that through his entire career. As I said, his benefit is that he is not obviously mentally ill nor is he a blatantly criminal. But his voting record does not support any progressive reality. The largest prison population on the planet and the very convenient elimination of bankruptcy protection for the growth of student debt has created decades of exploitation and oppression.
I won’t even mention his only justification, also used by decades of American politicians, is that anything else was impossible. My concern is that his life has been spent pretending to support things that he voted to undercut and now he must take real positions but he can’t seem to remember what those positions are.
This will be totally dependent on his VP and everyone knows that. Expecting anything from Joe is a waste of time. With luck he will discretely but effectively abdicate. As a figurehead he would not be a threat but he is still missing the real person who will manage a huge recovery.