+1
I've seen democratic bands succeed. It's always a bit miraculous to me, but it happens, and my hat is off to those bands. No criticism neccesary.
I have seen just as many democratic bands implode from the friction created by too many competing and misaligned agendas and ideas.
I think the same could be said for bands with a designated "leader" (filter, arbitrator, veto, executive, call it what you will). I have seen a few where the grip was too tight, and most musicians weren't comfortable with that, so there was a rotating line-up and no real momentum. I've seen many where the musicians respect the leader, get on-board with the leader's vision, and they have much success.
It's purely a preference thing, there is no right or wrong. If you're not on-board with the leader and his vision, move along and find something where you can get more of your thoughts and ideas in the mix. Simple.