At the risk of repeating myself, we are a tiny bitsy backwater colony with an eccentric Sea Lord. Trying to stop the fading of the Elven presence in Middle-Earth is to change some of the key themes of the Music itself, which is way, wwaayyy, wwwwwwaaaaaaaayyyyyy above our pay grade. Its simply not gonna happen to go by what is realistic in-universe.
Warning: A bit of a ramble
More broadly, I do feel there is a bit of a trade-off in any good Politics-related quests: you can be powerful, to have the means to do a lot, and have a very sweeping effect on the world, but usually, that means you are a key part of its framework already and you are quite probably set in your way enough that what you realistically WOULD do is limited by the state of affairs when the voters take over, which is reflected by the options we have. If this quest had us play the King of Numenor odds are that a lot of the more benevolent options we went with would not have been available because they are too fringe in Numenorean culture and politics for them to be adopted as royal policies. (Even then, the Music would still weigh quite heavily on us).
On the other hand, we can also play a less powerful entity or character like we are doing in this quest. It allows the voters more freedom, as it is always possible that someone farther from the center of power would be less aligned with its politics and more detached from its cultural mainstream. Realistically, it would provide more voting options. However, once again the medal has another side: if what the PC would do isn't the limitation then what the PC CAN do is do that job, since it has fewer means at its disposal.
What can't really realistically happen though, at least in most popular fictional universes, real history, and realistic alternate histories, is for us questers to have our cake and eat it, to have both the freedom of a free agent and the power of one the masters of the established order. And you know what? I actually think this is for the best! From these limits come many of the challenges that make these games interesting, to have to play what we are.
In our case, I'd argue it means dealing with the fact that, for all our farsightedness, for all, we are ahead of our time, and we have to deal with the constraint imposed by our relative spare resources. Numenor is not gonna be redeemed because of us. We far too small to make that big of a difference when, at the end of it, it didn't come close in canon. Eru is even less likely to alter some of the key notes of the Music because we wish he will. We wouldn't be the first nor the last to mourn some of its themes. What we can do is save some of the local Middle-Men populations, reconcile them with Westernese, perhaps ensure Tharbad's survival and, of course, defeat Gundabad earlier than it might otherwise have been. If all goes well we might even get to save Var...
Very small in the grand cosmic scheme of Arda these things might be but they still have the chance to make all the difference in the world for many and they are still a lot for what we have to work with. Let us, therefore, concentrate on ensuring they come to pass