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One of the key benefits of a democracy is that they are seen as relatively stable. In the systems that were common before (monarchies, theocracies, oligarchies, dictatorships, etc.) there were frequently rebellions or coups. One reason for that is that in a democracy, people feel like they have an option to change the system instead of just violence: voting. But, that's a feeling that they can change the system. It isn't necessarily true.
In a 2 party system where both parties claim to represent different views, people think that voting for the other party will result in the change they want. But, often it doesn't, because that isn't the change that the rich people and corporations want, and their money allows them to keep certain things off limits for both parties.
In a 1 party system, people might realize that if the party doesn't want to make a change, the only way to have the change happen is a coup or a revolution. But, 2 parties and the illusion of choice keeps people voting instead of rioting or rebelling, so the system stays around longer.
Sounds like oligopolic autocracy