I think it is a bit of a stretch to expect multiple Class A teams to be at the level or above that of current Class AA teams. Teams like Warroad or Hermantown compete, but in the case of some teams, like Warroad, there are some transfers (not trying to start another debate on this). Whether done in the high school level or at the youth level, a player that chooses to defect depletes another team. In some instances, that can deplete a whole team. Hermantown benefits from being just outside Duluth as well.
No surprise, often the Class A team that do well are 1. an established perennial contender, with such a tradition that it attracts from outside areas, or 2. it is in the region just outside a population hub. In class A this year:
1. New Prague - Growing southern MN community, prior it was Rochester which is a population hub in Minnesota
2. Orono - Northwest Metropolitan. Affluent area where, if most choose to play hockey, they can afford to do so. Prior to this year, dominated by Breck who had in influx of players from all around the metro/city.
3. Luverne - Southwest Minnesota. Growing program outside the Sioux Falls, SD area (stimulates interest in hockey with the Juniors program a half hour drive away).
I am not going to dissect every team representing Class A in state, but there is a pattern among teams that are in the tournament or competitive. Trends show they are 1. near high/growing population areas, or 2. in an area of know interest, such as an established tradition (i.e. Warroad), or external influence like a Junior program near by or, 3. (though relatable to #2) subsequent trips to state.
Often what gets kids into hockey is watching their hometown, either on tv or at the X, representing their community on the ice. In my MN hometown, nearly all of the teammates I participated with had their interests come from watching our small town at the Class A state tournament and
win the Class A tournament, or watching their siblings at the state tournament. In a way, to go to back to a one-class system would rob some communities of this opportunity to watch their team on the grandest stage.
Luverne for example - do you think the youth community is saying "Meh, we're undefeated, but against weak competition; We'll see how we compare at state," (not necessarily youth, but even adults) or do you believe they are genuinely excited and hyped-up to see their city being a representative in St. Paul? In a city like Luverne with a population of maybe 5,000? (I am not familiar with the city, outside of driving through on my way to SD), if even five kids pick up a hockey stick, or become fans of the game, (or best of all become future contributors to this wonderful forum

) out of the general excitement of their team being at the X, I think it's wonderful for the sport.
I, personally, don't want to watch the same teams at state year in and year out. The established programs in this state will likely stay established for some time (hence, why they are established). The Class A tournament brings in interest to the game for those smaller communities to grow into an established program and compete. To have a one-class system, I think we'd see a lot more players moving across the board to established communities/teams, greater division between teams (player development and skill), and less interest from smaller communities that cannot compete in the "one-tier" level.
The state doesn't need three classes, but it shouldn't revert back to one.