It's just a thought-stopping meme. Thought-stopping because it ends up derailing conversations about policy or governance with dictionary definition arguments. A meme because the eye-rolling implication is that if our country is a republic and not a democracy, then naturally it's Republican and not Democrat(ic).
Furthermore, the fact that there are some anti-democratic elements in the US Constitution doesn't preclude democracy on the whole. Much in the way we consider our economic system to be capitalist despite there being many anti-capitalist components.