Democracy in its current state is fundamentally flawed, as it grossly overestimates the knowledge an average voter has about the political climate and the consequences political actions may have in the long run.
There is little misassumption about democracy. It has been known for thousands of years that this is a key drawback in democracy. It may be better stated as an inherent flaw with the estimate that many people will be ignorant voters.
Mandatory voting thumbs up
What if one does not pay the fine for not voting?