I get that all these conclave groups are illegitimate, because they don't *even* entail a unity of those who do not think Francis is the Pope. That the Sedevacantists still cannot gather together and elect in unison a new pope, heavily inclines me to believe that the real reason that they can't is because we have a Pope, just a very bad one.
The reason they cannot elect a pope is because they do not have the legal right to do so. There has long been an argument against sedevacantism that, if sedes are able to say that the see is vacant, they should therefore be able to fill it by electing a pope. This does not follow. It would be like saying that, if you can see that a flash flood is coming while you are hiking up a dry gulch, you are therefore able to build a life raft in the next 10 seconds before it hits you. There is a fundamental difference between recognizing the existence of a problem and being able to fix it.
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If you talk to the typical sedevacantist priest or bishop, he will tell you that he possesses no ordinary jurisdiction, and he only exercises his orders for the good of souls by saying Mass, hearing confessions, performing Extreme Unction, and other similar duties. These things can be justified in canon law, by various canons which state that any priest may confer the sacraments in case of necessity when a priest who has ordinary jurisdiction is not available. They generally consider this sort of thing to be the limit of what they are able to do, and this obviously does not include the power to elect a pope.
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And also, as Ladislaus said, there is really no way to get all sedevacantists to agree on a method of election, even if they thought they had the power to do so. The problem of electing a true pope, as far as I can see, is outside the realm of human ability at the moment. But then again, it's also outside the realm of human ability for the SSPX and similar-minded people to get the people in Rome to act like Catholics either, so fundamentally we are all in the same boat, and we all are just awaiting God's will.