I'm with you that "defund the police" is a bad phrase. It feels emotionally satisfying, but doesn't even fit the set of reforms being pushed.
I think unbundle the police sounds dumber but more accurate. Do you disagree with that? Ie. not having the police responsible for mental health crises, drug possession, traffic violations, etc? Do you disagree with not spending money on purchase and maintenance of military equipment for the police? None of these are acceptable aspects of American policing, and they contribute to the awfulness people are protesting against.
You said something about never let a crisis go to waste. It came out as an insult, but I think that's exactly the attitude you should want, in a democracy.