Basically. Honestly, pretty much any system would work if humans were perfect. Absolute Monarchy? If the King/Queen is wise and caring and seeks the knowledge of others in matters that they don't know enough, and the people that do know offer their knowledge the best they could without manipulation and agendas, it would work really well.
Democracy is the best government system not because is efficient or because the popular opinion is the wisest, but because it forces the government to care, at least to an extent, because it gives some semblance of consequences for bad decisions and limits power. The human condition is such that the effectiveness in practice of a system is based not on what allows the most good to be done, but the least bad to get away with.

You know, I have been thinking about it, and in a way, they are right.
I know, I know, but hear me out. If you think about it, communism is supposed to be egalitarian, and on it's core, is supposed to be about the common people holding power and not having elites towering over them and treating them as unimportant. Now, think of the soviet regime, or mao's regime, cuba, ANY of them. Do you think the common people held any power? Because to me it seems like they had even less power than in the capitalistic societies.
As for what would be the "right" way to do it? Don't ask me, I don't know, and I don't particularly care. I think "true" communism requires such a descentralized system of power that it just can't be executed in anything beyond a group of a couple hundred. But hey, at least it has that going for it, a viable way of life for primitive conditions, unlike "anarcho-capitalism" which makes no goddamn sense.