Your correction was far closer to the truth. In reality, democracy means not the rule of the people, nor does it mean plebicites on each and every issue. In truth, the actual wishes of the majority become increasingly irrelevent in all "democracies".
The real power in a democracy lies not with the people, but with those who can manipulate and mislead the people. In a word, with those who control the mass media. When the people are apathetic and badly informed, when they give themselves over to entertainment and leisure, then it is those who can implant false ideas in them via the media who actually control the course of democratic policies.
Boil it down a bit more and it comes down to money. Democracy is an open invitation for the rich to take over by subtle and expensive means.
Democracy also allows for the complete and peacefull overthrow of a government though. But that option really depends on the quality of people that make up the masses.
That seems to be the common rat foot soldiers failing. "Faith in human nature to do good." Add into the mix that 2/3's of us are on the gub take and the peacefull overthrow scenario goes right out the window along with out independance and will.