I think, on Reddit, the analogy is closer to the landed gentry: The people who get there first get to stay there and pass it down to their descendants, and that is not democratic.
you have been muted and can no longer contact the moderators of /r/modcoord
this mf is going to give people a voting system to kick out mods, and they're gonna use it to kick out the mods he just picked who stopped the subs from going private
This is basically Stalin saying "the kulaks are too privileged", not because he wanted to distribute the land, but because he wanted to expropriate it to bruteforce economic development.
You're right, a former mod of The_Donald was trying to become a mod of r/aww this week during the protests. So that's exactly what's already happening, Reddit is about to get a whole lot worse.
He's talking about democracy but there was no democratic vote in place regarding the API costs they're going to implement. So he's only about democracy when he thinks it suits him.