Should we be Monarchists?

In a provocative essay posted at the Front Porch Republic, John Medaille proclaims himself a monarchist.  He states: 

I am a monarchist because I am a democrat. That is, I believe that the will of the people, their traditions and customs, their concern for their families, their communities, and for the future should determine the shape of any political order. And monarchy is the highest form of this democracy.

Does he have a valid point?  Comments are open.