> aren't we really saying voters are not individual agents but rather a mob subject to manipulation by propaganda?
Yes, it is. Always has been.
> threats to "democracy" that simultaneously take such a cynical view of the democratic process
> then the whole "democracy" thing is just a cover for elite power
You'd have to have fallen hook, line, and sinker with America's propaganda to actually believe that democracy is NOT a cover for retaining control over a population.
The US has been playing this game in other countries for a while now, to keep a check on who comes to power and who does not (always using support for democracy as an excuse). Gautemala, the arab spring, bangladesh - these are just some of the examples. And it's become very blatant of late.