The people of Egypt have been fighting and protesting and demanding their rights to elect their own governmental officials. They experienced the first taste of free elections last year. There is still a long way to go to ensure a stable, truly free democracy in Egypt, but I do believe the people there have the drive to see this thing through.
In 2011, the people spoke. They were no longer satisfied with their government and the tyranny that they had encountered. While right now the Government in Egypt is an uncertainty, the people spoke and they will attain the government that they so desire. With Democratic elections, the people will have a government that reflects them and through their say it is a strong likelihood that a democratic government will flourish in Egypt. The people have spoken and they will speak again.
Even if a democracy was officially established in Egypt, I doubt that the corrupt dictator would the democracy to take over. The dictator has been getting his way without the support of his people for the duration of his "reign". Egypt needs to start from scratch in order to set up a democracy which will work.
Egypt will be a country that looks like a democracy on paper, but it will never be anything close to a true democracy.
The available candidates will all be those from very similar party coalitions and backgrounds. Because of the nature of the country, they will inevitably enforce Muslim Sharia law in some form or fashion. There will only be debates about how conservative this Sharia will be, and it will likely differ only in very small amounts.