In an ideal world, the United Nations would be governed only by the General Assembly. However, we do not live in an ideal world. There is no feasible way to abolish the vetoes. Current permanent members like Russia and China would never be willing to give up their veto power.
The current security council solution specifically favors certain countries over others, which isn't fair at all and can lead to abuses. Since there's no alternative international organization comparable to the UN, the UN ought to ensure that its system of governance is fair. Electing several countries to the security council every few years would be a more democratic solution.