Yes, it can be replaced by another, existing or newly-created agency… But that wouldn’t solve anything since the problem is not the FBI, as an agency
( with everything being said, they do also have quite a few good sides and good uses, and they have proven to be quite efficient in combating certain types of crime — but they should have been kept away from dealing with “politicized” criminal activities)
AS stated before… the FBI is nothing more than a tool, how it is used is decided by the ones who wield it.
The problem is the system which allows the FBI to have certain powers and lack of transparency, as well as allowing individuals to gain control over both the resources and the policies of a very powerful agency…
Now, getting rid of the FBI and simply replacing it with something else, will not solve the problem, since the system in place will simply make the other agency do the same ( or even worse) things than the FBI while allowing power-hungry individuals to take control of the new agencies as well.
What needs to be replaced is the system which allows, or maybe even promotes, such things with a system which manages to keep things separated while also keeping individuals in check as well as accountable for everything they do. Otherwise, things will only get worse… they might even go as far ( in some future) as to dissolve the FBI in order to shut the critics up, and then have the same people with the same policies and agendas come back under a different name, most likely in an even worse manner than before- but, in that case , “the powers that be” , could use that as “proof” of how different from their predecessors they are and how “democratic and transparent” the new agencies are …