It is Time,
I agree with much of what you wrote but Judaism is not supposed to be an aristocracy unless you mean that everyone is supposed to be an aristocrat. That which most of us are incapable of answering questions and require others to pasken for us is a sad thing.
Whether Hashkafa should be used depends on what you mean by “Hashkafa.” For example, the Bais Yosef held that Acharonim (like himself) could not decide among a machlokes Rishonim based on their own reasoning and proofs from the Gemara. Therefore, where issues have been clearly discussed by the Rishonim, the Bais Yosef paskens like the majority of the major poskim (as he defined them). The Maharshal held that Acharonim (like himself) could decide among a machlokis Rishonim based on their own reasoning and did so on many issues.
Arguably, this machlokis between the Bais Yosef and the Maharshal is a hashkafic one that will determine the psak halacha in many cases.