That seems a bit tautological to include the outcome in the definition. By that logic there are democracies today that will sometime in the future become “masquerading” that we can’t know yet.
You can't predict the future of any country of course, but you can certainly use its past to inform such a distinction. The moves by China and Russia, for example, to lengthen the reign of their leaders, while in the U.S., no matter what has happened to its leadership for the entirety of its history, no one has ever exceeded the time they were allowed before another election risked that tenure.
It's good that it hasn't happened in the US yet, the US luckily has pretty strong institutions it turns out.
But just looking at number of times a democratically elected senate has been dissolved throughout history (Rome, Japan (rise of imperial japan), Germany (third reich), Iran (iranian revolution), etc), there has indeed been a lot of "masquerading as a democracy" going on.
Separation of powers makes it harder to raise a dictator but in some cases it's just another piece of legislation away. Hence, I think Americans ought not to take our democracy for granted.