Well I wouldn't just sit in my basement writing down laws. The skill that I'm most confident in is well actually it's philosophy, but the skill I'm second most confident in is to figure out which thinkers to listen to. I would lean heavily into that and basically function entirely as the person who decides which people are in charge. I would have the theoretical last word, but I'd probably almost never use it.
That's the one answer. The other answer is that American politics in particular is so grim right now that I think not taking the One Ring, if hypothetically you had that choice, is completely irresponsible. It's not like we're making the same decision about Singapore.
And I guess a third answer is that if there is any person in the set of people who you'd make a dictator, then it has to include yourself because you could just choose that person. Like, I could just decide to make Yang president for two terms and then return to the old system. I think that'd be an improvement, so that's already enough reason to choose the Ring in this metaphor