The benefit to Democrats from picking up otherwise spoiled votes from progressive third-parties will be offset by decreased turnout from people who do not understand a ballot with ordinal choice.
Are Australians smarter than Americans? Because they seem to understand it just fine. It's not that hard to understand, you like one person the best so you have them as a first choice, and you like another person a little less, but still like them, so they're second, and a third or fourth you hate and don't want to win, so you have them last.
Really not a difficult idea.