Those who hold the opinion that the Papacy can corrupt the Magisterium, the Mass, produce a plethora of bogus canonizations (despite the solemn formula used) ... are slouching inexorably toward Old Catholicism and are destroying Tradition while pretending to preserve it, exactly as the Old Catholics did. They too claimed that they rejected Papal Infallibility because it was "contrary to Tradition". Some R&R are throwing the Church under the bus in order to salvage nothing more than a guy walking around Rome in a white cassock.
I agree with the logic, but it's not perfect.
Sedeism (which i'm not opposed to) may "explain" the crisis, as to your points above. But it just creates new doctrinal problems, such as:
1. Infectibility - How could God allow the papacy to be usurped? Doesn't this mean the papacy "has fallen"?
2. Visible Church - How is the visible church still in existence, during a global crisis going on 60+ years?
3. Jurisdiction - How has the Church NOT been prevailed upon by hell, if there's no operating org in existence?
4. Magisterium - How could God allow the magisterium to *seemingly* be corrupted by fake popes/councils?
5. Doctrine - How could God allow doctrine and an ecuмenical council to be *seemingly* corrupted by fake popes/bishops?
6. God can neither deceive nor be deceived. But if He allows fake popes for 60+ years, is He not endorsing deception?
7. The Church cannot cease to exist. But aren't fake popes, a fake mass, and a fake council a replacement for the Church?
The point is, every argument used against R&R can be turned around and used against Sedes. No matter which camp you choose, there are still doctrinal, magisterial and liturgical problems which remain, and cannot be explained.
Sedeism explains the crisis by saying that the V2 church is fake, but can't explain how God can allow the Church to *seemingly* be corrupt. They say the Church isn't corrupt, but only the fake church is. But the corruption still exists.
R&R explains the crisis by saying the V2 church is legitimate, but only by law, but can't explain how God can allow 2 churches at the same time. They say there exists the True Church, overshadowed by the false church. There is corruption, but not of the True Church.
Same coin, just a different side of it.