A mockery of the political system of democracy. Can be used in two ways:
1- to ridicule a country's system which is an oligarchy or aristocracy, masked as democracy.
2- to ridicule the idea of democracy as a progressive, humanistic political system.
1- When the final candidates you get are Trump and Hillary, it clearly shows the politics of USA have degraded from democracy to demockracy.
2- A system of governmen of sheeple, by the sheeple, for the sheeple. Yeah, that's demockracy for you.