Earlier quoted context omitted.
"Democratize" word meanings from the Oxford dictionary: 1) introduce a democratic system or democratic principles to: public institutions need to be democratized. 2) make (something) accessible to everyone: mass production has not democratized fashion. The second one seems to be exactly what they say about their system.
Yes I know they aren't the first person to use the word that way, it still bothers me. I didn't know this abuse had become widespread enough to warrant an addition to the dictionary.
I think you are mistaken as to the recency of this definiton.
According to wikitionary, the definition : "Exhibiting social equality, egalitarian" for the word "democratic" dates back to 1915.