Why are the doubts about specific classical principles (elite) of democracy being democratic?

In the elite theory of democracy as presented by Robert Michels, Mosca, Pareto and others, the basic idea revolves around the elite sections of the citizens. It describes the power relationships in the society in which more prominence is given to the richer sections of the society. This small minority controls the power and authority of the society. This has resulted in many doubts regarding the process being democratic.

The elitist theory is criticized widely as it allies with the richer and influential sections of the society. It can result in the oppression and discontent among the other sections leading to a class struggle. The marginalized sections would be concerned about their rights and obligations being curtailed. The law would be in the hands of the sections having money and muscle power. It can lead to the discrimination of people on various grounds. Thus the system cannot be considered as an absolute democracy.