The linked documentary offers a strong critique of the reformist attempts from local Chileans who were there on the ground (starting at around one hour in). I can only offer my own criticisms as a non-Chilean looking in from the outside.

Historically liberal reform either kicks the can of capitalism’s problems down the road (FDR in the 1930’s), or fails to even kick the can due to so much corporate capture of the government, that it actually accelerates a turn toward right-wing authoritarianism.

In the case of Chile, the latter case seems to be happening. The proposed progressive constitution to replace Pinochet’s constitution likely failed due to the deep corporate pockets available to right-wing institutions, who are able to effectively trick under-educated citizens into voting against their own interests through massive propaganda campaigns (the same thing happened in the US thanks to Fox news, hence why they are now in a power struggle against literal fascists).

The right-wing then mobilized to create a new right-wing pro corporate constitution, which was only narrowly avoided despite their propaganda efforts.

The new leftist president Gabriel Boric, as most leftist politicians do after reaching political office, began to become more moderate, all the while congress, who are corporate captured, continued to vote down his reformist taxation policies. It’s a classic tactic of letting the left spin their wheels and burnout in congress/parliament for years to stall direct action. All the while regular people continue to suffer under capital, and become more and more enchanted by the easy solutions fascists can offer.

History has generally shown that the olive branch of reform is a tool used by the elites and capital to quell a growing movement to overthrow them. It’s their last option before using more brutal authoritarian control to maintain their grasp on power.