That's a very appropriate term. There has always been various forces who either believe the majority of citizens don't deserve democracy or that they are above it.
I hate to break it to you, but it was never real. It’s always been a sham, a charade, a farce. We’re not even remotely honest with ourselves about much of anything in public… So IMO we get what we deserve.
It was always a sham, but it used to be possible to think that it was gradually getting better. In the 20th century, we extended voting rights to women and 18 year olds, and we put measures in place to protect black voters. The moral arc of the universe did seem to bend towards justice.
It has been really disheartening to find that it can also bend away. Voting was always going to be at least something of a farce, but it genuinely seemed to be better than the alternatives. Now, it's not clear that it is.
I just hope something in my backlog of eastern philosophy will at least delay my descent into complete hopelessness.