In the ideal, populism can be seen as a good example of democracy. In practice, voters just go off of feelings and "he said, she said", at which point it's not about the benefit of the people so much as whichever elites manage to wrest the conch this time. For the most part, the people themselves aren't well educated and able to understand what is actually to their benefit or not, even if they are college educated. Adding to that, people are bad at long-term thinking and focusing on multiple issues. In practice, the outcome is the same.