The Second Amendment, like all of the rest of the Bill of Rights, is about limiting governmental power. It is about ensuring that governmental tyranny will ultimately have to contend with the will of the people. The problem is that the disparity of destructive power between the weaponry of the government and the weaponry that people can own has become too great. Even if all citizens were armed with fully automatic assault rifles, this arsenal would pale in comparison to the firepower available to state and local police forces, never mind the world-ending power of the national armed forces.
The Second Amendment protects the idea of armed rebellion as a limitation on governmental power. Even though guns are obsolete for the protection of this idea, no serious discussion of the Second Amendment can propose their elimination without also proposing the armaments that should replace them.
It should be obvious by now that the weapons that matter are no longer ballistic, they are digital. The revolution may not be televised, but it will be online. The government does not fear guns. The government fears anonymity, connection and encryption. Second Amendment reform should be pushing in this direction:
A digital Militia, being necessary to the security of a free State, the right of the people to remain Anonymous to the government, Connect online to all governmental information, and use and possess tools for unbreakable Encryption, shall not be infringed.