It's not as simple as that. They are a democracy, with regular elections. They're just punctuated with military coups. There'll be tanks in the street and the military will have to, after a few days, try and stop people from dancing on/near the tanks. There'll be as many people in favour of the coup as against it. The military situation has nothing to do with the respect for the king; the coups don't happen without the king's blessing. Absent the monarchy in Thailand I don't think the situation regarding democracy would be any different at all.