A technocrats actually makes sense. But that isn't practical. People always at some point end up hiring their friends and putting people they know in positions of power. Nepotism and cronyism are just natural progressions, even when systems of governance start out with good intentions. Eventually someone always ruins it for everyone else.

i guess, but only as much as any other oligarchy. you can have democracy where the only people who can vote are people with doctorates in stem fields, or who're land owning white men, or who have their patents of nobility, or who have at least a million USD in their bank account. but really it's not particularly in keeping with the ideal that people are usually talking about when they say 'democracy'.