Sure there is. I've been saying it since day 1.
OK. Let's play it through. Let's assume that in any of the last two elections there was a separate vote for PM and Netanyahu won.
B&W that was founded (and IMHO we might find out one day how it was funded) for the sole purpose of defeating Netanyahu, doesn't play along.
Lieberman, who is personally responsible for bringing about the last 2 rounds and would be happy to see Netanyahu defeated, doesn't play along.
Labor (or whatever they are called in their current incarnation) don't play along.
Arabs - well that's a hot potato even for the left wing.
Netanyahu is PM without a majority in the Knesset, with an overhang of an indictment.
Now what?
Remember, your solution was tried before and was done away with pretty fast.