I was going to answer this, but, [MENTION=5142]Aldarc[/MENTION] just answered it much better than I could.
[MENTION=16814]Ovinomancer[/MENTION] - what is the proper term then for a table where one person holds all (or at least the vast majority of ) the power at the table? You might not like the word despot, but, that's precisely what a "traditionalist" DM is. I'm sorry if you find that overly antagonistic, but, at what point should we call a spade a pointy digging tool?
And, really, if you honestly missed the level of tongue in cheek there in that post, that's gotta be at least a little bit on you.
/edit to add:
In what way is a "traditionalist" DM not a despot? We've seen arguments in this thread alone that the DM is the ultimate authority over all things that happen in the game. We've seen arguments in this thread alone that the DM determines who can sit at the table. We've seen arguments intros thread alone that the DM can overrule the preferences of any or all players at any time.
In what way is that not a despot?