The discussion ought not to be about democracy, it ought about information. Democracy as an idea and a concept is fine. But it relies on good information input for people to make proper informed decisions. Brexit shows how far you can take it if you ignore decency and just lie your ass off. It's pure propaganda, there is zero truth behind it, zero gain for anyone but the ones spreading propaganda and surrounding themselves with willing henchmen that hope to profit from the crumbs falling off the big boy table.
The underlying problem is the modern form of illiteracy. We have eliminated illiteracy almost completely in western democracies, but with the internet and the massive flood of information, people are suffering from a new kind of illiteracy where they cannot distinguish bullshit from important information. The Murdoch media is exploiting this in that they flood your senses with all kinds of bullshit nonsense and the few important bits get drowned out. We've now reached a point where the mass population is almost oversaturated and can't be bothered anymore. This is the beginning of Idiocracy. There is no immediate fix to this, because free speech generally prevents any quick fixes. So we will have to endure, hope nothing gets damaged permanently and fix this through education. People need to be made aware of this and things like Murdoch media needs to be shunned by society itself.