After reading a bit about the issue, I think it's not accurate to describe Sukarno's government as "democratic", though clearly it was far less oppressive than Suharto's US-backed military dictatorship.
Yes, different variations of that also happened throughout much of South and Central America. They installed capitalist dictatorships to open the countries' markets to US products and establish capitalism, then (in many cases, though obviously not in Iran) pressured those dictatorships to cede power to democracy. I don't think capitalism alone would have destabilized dictatorship as a form of government.
They attack democracies that they don’t like labeling them autocratic and dictatorships. Then install their military juntas. See numerous examples like Chile, Ethiopia, Iran etc.
Stephen Kinzer has written extensively on this in the book Overthrow:
https://www.amazon.com/Overthrow-Americas-Century-Regime-Cha...
On overthrowing the Iranian democracy and installing the Shah:
https://www.amazon.com/All-Shahs-Men-American-Middle/dp/B00S...?
On the Jakarta Method:
https://en.m.wikipedia.org/wiki/The_Jakarta_Method
https://www.amazon.com/Jakarta-Method-Washingtons-Anticommun...?