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An aristocracy is worse than a depotism, since an aristocracy is more consistent in its authoritarianism. While it's possible get a good "Prince," it's almost impossible to get a good oligarchy.
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"Never was it known, that an Aristocracy which was haughty and tyrannical in one Century, became easy and mild in the next."
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Aristocracies usually become so tyrannical that eventually people rebel, and install one of "the two Evils" democracy or despotism.
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A Genoese, or a Venetian Republick, is a concealed Despotism; where you find the same Pride of the Rulers, the same base Subjection of the People, the same bloody Maxims of a suspicious Policy. In one respect the Aristocracy is worse than the Despotism. A Body Politick, whilst it retains its Authority, never changes its Maxims; a Despotism, which is this Day horrible to a Supreme Degree, by the Caprice natural to the Heart of Man, may, by the same Caprice otherwise exerted, be as lovely the next; in a Succession, it is possible to meet with some good Princes. If there have been Tiberiuses, Caligulas, Neros, there have been likewise the serener Days of Vespasians, Tituses, Trajans, and Antonines; but a Body Politick is not influenced by Caprice or Whim; it proceeds in a regular
Manner; its Succession is insensible; and every Man as he enters it, either has,
or soon attains the Spirit of the whole Body. Never was it known, that an Aristocracy which was haughty and tyrannical in one Century, became easy and mild in the next. In effect, the Yoke of this Species of Government is so galling, that whenever the People have got the least Power, they have shaken it off with the utmost Indignation, and established a popular Form. And when they have not had Strength enough to support themselves, they have thrown themselves into the Arms of Despotism, as the more eligible of the two Evils.
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