The status of the Herem of Rabeinu Gershom is debateable, even among Ashkenazim – so if the western countries legalize polygamy (as is increasingly a possibility due to the rejection of the traditional canon law rule that marriage involves one man and one woman – they already rejected the part about marriage lasting until death) it will reopen the discussion. Many have argued the Herem can’t permanently change halacha, is only applicabhle to Europe, and doesn’t apply to countries where polygamy is lawful by secular law.
Halacha requires that the first wife consents. That would eliminate most abuse.
Financially few men could afford to support two wives, however in the modern economy wives are often self-supporting, and the “sister wife” (a Mormon term) could provide reliable child care allowing the other wife to fully engage in a career.