The solution to this is really simple: in all rounds of the competition, allow the teams to decide for themselves if they want a replay, extra-time or straight to penalties when the tie is drawn. Also bring back the ability for teams to agree to switch who hosts the game, so a lower league club can agree to no replay if they get to be away from home and maximise the amount of money they make. I'd also make usage of VAR when ties are played at Premier League grounds an agreeable option or not as well.
In regards to the video above, the FA Cup is the oldest and most prestigious inter-country cup competition in the world. Asking if it should copy an inferior one is like asking if Coca-Cola should stop what they are doing and copy Pepsi.