Deckchairs on the titanic. I want real democracy (both political and economic), the charade of more referendums run by establishment groups isn't going to bring that about any more than changing the voting method will.
That said, the one thing they do do (as shown by this one) is revel the contempt liberals have for real democracy. We can't possible allow those dreadful ignorant (working-class) people a say, that might vote the wrong way.