Interesting idea though I think you are blending two problems into one. Let's entertain a hypothetical Amazon where its democratically run. Majority of employees are low wage fulfillment workers. So they vote to increase their wages because they are majority. Now amazon isn't able to sustain profitability because low wage work is by very definition low wage work.

Would Amazon be as successful in this scenario? I doubt it because their prices would be higher to cover larger employee costs. I don't think democracy in a free market works because a business would self consume.