This perspective piece argues that the persistent fragility of South Sudan's peace process is fundamentally rooted in a predatory political economy, rather than a mere deficit of political will. It analyses how elite bargains, formalised in the Revitalised Agreement on the Resolution of the Conflict in the Republic of South Sudan (R-ARCSS), have entrenched a system of rent distribution that actively disincentivises the establishment of a legitimate, functioning state. The article contends that the international community's technocratic focus on timelines and power-sharing has inadvertently reinforced this system, prioritising short-term stability among elites over transformative institutional reform. The conclusion posits that a sustainable peace requires a recalibrated approach addressing the core economic drivers of conflict.