The necessary scope of that elaboration would require a considerable consulting fee. (ha ha)
One opinion I'd feel comfortable offering is that Milwaukee cannot support both a USL and an MLS franchise.
I am convinced, however, that the brains of the former Milwaukee Rampage and Milwaukee Wave have the ability to run a healthy (note the word "healthy") USL franchise. Some think this unthinkable. They might be the ones referenced in your "bury the hatchet" statement. Others would say the answer's staring us in the face and we're too dumb to see. If the two of them can't figure it out together, yes, new ownership.
I can't speak to the MISL portion. (It's my understanding the Wave indoor team is sustained by the Wave's successful summer camp program.) I would think a unification could only bolster this area.
Both the Rampage and Wave have/had weaknesses off the field, but they both have/had strengths. Combine the best of both worlds, fill in a couple missing pieces, and what might you get?
My feeling is that Milwaukee politicians are smart enough (did I say that?) to realize they can't afford to deal with an MLS issue now, if ever. There are a number of highly-publicized, negative things going on in city and county government - trouble among county board members, pension scandal, budget slashing, potential tax increase, negative police publicity, gun violence). Add this to the A-listers (real estate investors, other sports owners) who have a vested interest. There's no way to spin the MLS project so it will be palatable to the private sector, the general public, and government officials. No way. The politicians know that. When Peter Wilt's best chance is with a local authority, well . . .
On another note, there are, what, 60 or so soccer clubs in the State, a majority of which are in the Milwaukee metropolitan area. Each club has it's own traditions, its own youth and/or pro programs, its own agenda, its own goals, its own territory. But to unify the Rampage and Wave would at least unify a majority, if not all, on the youth level. Now there's a start.
New money? Of course, that's one thing that would always be welcome.
I've gone on too long. I apologize for the haphazard line of thought in ths post, but it came to me as is and I don't have interest in re-arranging it.