I don't like the current system, too.
I don`t want a Emperor that is a coward that just uses a lot of time and methods that gives the most AP.
There for, the 10 Top Ten AP gainer should:
a) Perform a tornament where the winner will be emperor, cause he is the strongest of his faction.
b) The emperor is chosen by vote from all players of his faction. Like the Top 10 are up to vote and you have 1 day to place it.
OR
c) ZOS brings in the PvP Arena with 3v3v3. ELO System. The winner team of the Arena Season can promote one that will be Emperor, the other two becoming the Emperor Officers, granted half of the power an Emperor gets.