Every system is perfectly designed to get the results it gets. Of course, the results may not be the ones you intend, and your intentions may not be good.
In this case, we can try to answer a few things:
1. What were the intents behind the EC system we have?
2. Are those intents the right ones (anymore)?
3. Is the system producing results in line with thous intents?
My (incomplete) answers to these questions:
1. Clearly there were some intents behind the EC beyond enhancing representation to the little guys for fear of them being left out of our national agenda (from an executive branch side of things), but that to me seems to be the most important intent that is relevant today. I think it's easy to approximate why the founding fathers chose to set up government the way they have if we merely look at the fact that they were trying to inject as many protections they could against the tyranny they faced from Britain, and among this strongly is being a tiny piece of the whole with no representation. Among it also is the desire for the people to have power to resist government if it gets tyrranical.
2. I think the intents I outline in 1 are, at worst, minimally bad. Personally, I think the intent is actually pretty good, but that is merely my opinion based on my values. I do think that our government today has far outgrown the capacities to radically change it regardless of it being or becoming tyrranical, and not that it is merely that our system of meeting this intent is not good enough. I (personally) don't envision a way to give people sufficient enough power against our government to radically change it without this being very dangerous. I imagine in the 18th century this was very different.
3. We are electing a president through EC that wins the popular vote unless the race is very close, so for this argument we ought pay more attention to the fact that our races are very close instead. So, mostly, passionate calls for popular vote are IMO butt-hurt driven, and although I prefer a different system, I also think that popular vote deciding the presidency would be an absolutely fine thing to do. Statistically, we are doing only minimally different than that anyway.
Also, the system does largely fail in practice with the intent of adding representation to smaller states. Simply put, the discrepancies between EC and popular vote of late is due to medium-large swing states being so impacting, not small states.
It does, however, make candidates campaign in and consider the interests of smaller states, which I find important, although it's only partially beneficial in this. Generally, though, despite being over-represented, their interests will never change a platform if it puts a candidate in worse standing elsewhere.
I do think, though that the fact that EC votes are for almost every state winner-take-all, medium-large swing states not only have more sway in the general election, they have more sway in policy as well. Politicians will alter their platforms and make deals to get more votes in certain areas outside of the general interest of America and even to a party's base, and this is bad.