Not entirely. Democracy isn't a fixed concept, and there are different interpretations of it. Direct democracy (via referenda) is fairly rare, and has clear flaws (look at the EU referendum!)

Equally, the Good Friday Agreement signed in Ireland in 1998 is an example of where an arguably good outcome arose from holding a referendum.

Clearly, referenda aren't "bad" in their own right, but they are a tool that should be employed when the circumstances are right.