It's much too early to say. The average Chinese citizen is poorer than the average Romanian (a relatively poor country and a democracy), let alone the average American.
China's economy is big because there are a lot of Chinese, not because the average individual is doing so well.
I think what China has shown is that democracy and capitalism can be decoupled. Ive always believed that capitalism and democracy are synergistic forms of freedom. The individual freedom to own property and trade with each other on the one hand, and our freedom as sovereign individuals to have a say in the organisation of society. The CCP has established that these do not depend on each other.