Meanwhile, it gets more and more obvious to the 90% that those proclamations are bullshit, and this magic "democracy" stuff is good only for the 1%.
Note that there is nothing special about "democracy" here. I could make the same arguments about "communism" in '80's-era Eastern Europe, or "theocracy" in modern Iran, or ...
Whichever -ocracy's and -ism's your society idolizes - behind the shiny facade, a whole lot of people have to give a crap about making it actually work for the vast majority of your citizens, then work hard at doing that. Complacent modern "gimme, now!" capitalism has largely optimized that work out of western societies, leading to obvious instabilities.