A better Tropico.
I've posted about disliking the direction Tropico took starting in 4 and really escalating afterwards where it veered away from Cold War banana republic satire and towards goofy goofy supervillain stuff.
I've been toying with what my ideal Tropico would look like. I don't think it ever really served the game in a meaningful way to have every citizen be simmed. It sounds nice for a game with espionage, but it winds up burdening it with unnecessary detail that crowds out the potential for more meaningful mechanics, and forces a smaller, more intimate scale to it. Which a lot of people probably would feel that personally building every tiki bar is part of how Tropico feels to handle, but my Banana Republic city-builder would probably be based more around zoning with special buildings being buildable. If nothing else, it would have a private market in the Victoria 3 Investment Pool way.
Politically, factions would be Reactionaries, Liberals, Communists, Socialists and Populists. Reactionaries in Cold War Latin America are caudillos, hacendados and the aggressive conservative wing of state Catholicism. Vicious to the Indians/mulattos, repressive/backwards agrarian landowners with their death squads. Liberals would be American-aligned developmentalism, industrial/tourism (like Batista's Cuba), anti-clericalism. Communists are heavily agrarian, militarized and nationalist. Socialists are a big tent of democratic socialists, Liberation Theology, trade unions, the Indians and so on. Lastly, Populists are wild-cards, maybe less of a coherent faction than a force that can be built up and channeled into political support. The Loyalists become a Cult of Personality mechanic. Populism =/= Cult of Personality.
Politics would be explicitly built on selectorate theory. Like Crusader Kings, networks of patronage, offices not as stat boosts but as political sinecures. Player should be put in positions like having to appoint the dipshit Socialist opposition leader's son to Minister of the Treasury because if he doesn't the Socialists will call a general strike, or have Indian collectivists crater their reputation with ecotourists by a civil disobedience campaign. Factions should be extremely corrupt, mostly zero-sum (there's some overlap in interests with all of them, even Reactionaries and Communists are really very similar aside from whether the Church or Party is your God and who sits in the palace) and very aggressive about promoting themselves. Drug Cartels could be another faction that only emerges conditionally, may never spawn, may be destroyed outright. Like Populares from EU: Rome, they're a symptom of state failure, a judgment on you; if you lost control of your society, you lose control of your government and economy to Cartels.
Endgame is the nuclear program. Tropico 4 had it be as lazy a matter of dumping money on it. I got interested in nuclear programs - specifically, what enriching uranium means - during the Iran bombardments. A nuclear program is a natural end narrative for a Cold War game. Achievable (South Africa, Israel and North Korea did), resolves Cold War geopolitics by securing independence while provoking brinksmanship (you can serve as a client in the early and mid game, but nuclearizing will provoke a Cuban Missile Crisis-like showdown if you're overtly aligned) and requires an advanced economy, which is what Tropico already plays as: a game of accumulating human capital (high school and then college) to enable industrialization. So the nuclear program would begin with the plausible claim of peaceful electricity, could escalate to a space program (much less plausible to the superpowers, involves ballistic missile launch capacity) and finally culminates in uranium enrichment, all of which requires an army of educated workers and getting hammered by CIA/KGB/State Department subversion every step of the way. The state is only going to make it if it's rock-solid; you have to have basically become First World quality in education/industrial base and politically stable to finally challenge the superpowers openly in this diplomatic crisis.
Flavor content would revolve around real dictator lore (ice palaces in the tropics, Amazonian guards of bodyguard babes, ice cream parlors the size of city blocks, etc.)