“Is it still a possibility, at least theoretically, for Chabad Lubavitch to install a new Rebbe?”
Any Chassidus can designate its own leadership but the question is who really speaks on behalf of Chabad? While the administrative/educational apparatus at 770 is nominally controlled by R’ Krinsky (Merkos L’Inyonei Chinuch, Machne Israel, etc.) its unclear if they really speak for Chabad on matters of hashkafah and belief systems including z’man moishiach. Certaintly, the Tzfatim and related Moishichist Groups wouldn’t accept Krinsky’s hashgacha on a glass of water.
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