That's the truth at the heart of statist (as opposed to anarchist) libertarianism. A despot is a despot, whether they're exercising power purely for self-interest, or according to "enlightened" principles.
Yes, by definition "despot" is simply a measure of one persons power. But this word also has significant negative connotation, which I find unfair. First off, simply because it's implying that "somewhere out there is a problem and here we are smart guys sitting in our comfy chairs in a country with electricity and deciding if it's right or not", and if "out there" isn't actually your country where you are living yourself it's none of your business. Second, implying that "situation in the country doesn't matter" as you do right now is simply absurd. We must remember, that all that stuff isn't something that simply "happens", but actual people making real decisions, drinking their morning coffee while thinking what they ought to do next in a country where everything might just change radically every minute. Believing that it is their moral obligation both to "care about your country" and "not to become a dictator" is simply contradictory, because it's quite likely that situation makes him to believe it's his only choice to hold power in his hands steadily and stepping aside after 4 or 8 or whatever years would be outright contradictory to "caring about your country". Even if we actually would like to step aside, because it's easier. He might be wrong, but if he truly does this believing that this is his only moral choice, that he does it for his people's sake — even if he is wrong in my opinion I would know better than disrespect his sacrifice by saying something like "A despot is a despot, whether they're exercising power purely for self-interest or not". But if he is right and actually rules justly, making lives better, then I have no problem with it whatsoever. Opposing it would be nothing more than saying simply that "democracy is the best form of government", and now this is something I have problem with, because even if it could be true in the case of that old, pure "Athenian democracy" (and could be not), implying that this fake "democracy thing" that is called "democracy" in USA and UK today is the same thing — is simply wrong, even harmful, and "if it actually is the best form of government" is actually a very serious question by itself.
