Ranked choice is very similar to what you just described, has the same downsides, and is much more difficult to understand. What you want is approval voting which has all of the upsides ranked choice claims to have, none of the downsides, doesn't have multiple rounds, and is trivial to understand. On top of that approval voting has an additional benefit where voting third-party/moderates doesn't feel like throwing any vote away so you can just include them and they're much more likely to win.