No, this is just upside down.

Various levels of elected monarchy have existed, but the whole reason that Magna Carta is important is that all sorts of abuses of power were going on in the name of the King and the aristocracy were fed up with it.

Given the full text, it's fairly easy to go through all the "X is not to Y" statements and work out what scenario caused that line to be in it: https://www.archives.gov/files/press/press-kits/magna-carta/... Quite a lot of it is complicated details of inheritance law and workings of courts, but you can take a guess at e.g. "No town or free man is to be distrained to make bridges or bank works save for those that ought to do so of old and by right." -> prohibition on corvee labour, people being press ganged into this kind of work.