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CaveJohnson comments on Rationality Quotes February 2012 - Less Wrong
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Yes I fully agree. But it shouldn't be underestimated that when it comes to non-democratic forms of government what kind of people are in power genuinely does have a big impact on how the country is run.
Wanting a philosopher king isn't a bad idea if you aren't mistaken about the philosopher king in question.
Or about your definition of "Philosopher king" in the first place. The character of Marcus Aurelius fit the preferences of those in Rome who dreamt of such a philosopher king; yet he was a poor ruler who displayed apathy - including going against his moral intuitions so as not to actually do anything, like finding gladiatorial games distasteful but making no attempt to limit them - and mediocre crisis management
What kind of people are in power has a big impact under all forms of government, democracy included.