Yes, in a democracy, the Vox Populi (voice of the people) does and should matter. The will of the people should always triumph above all else as otherwise the system of government is not a democracy. Oligarchy and unneeded meritocracy can occur when the vote of the people is ignored.
No, the vox populi does not matter in a Democracy. The rich and powerful select the candidates. There has not been a candidate for U.S. President in many years that was not rich. While money can be a sign of success, many people who have truly devoted their lives to public service would be excellent candidates, but cannot be successful because they do not have the money. Democracy is a facade to placate the low-income masses.