The only correction I would like you to add is instead of the Western world, replace it with the Western
European world.
From a practical standpoint, today's monarchies hardly have any power. In fact, the only power I know for certain the British queen has is that she's the commander-in-chief of the British military... that the regular government really tells what to do. Although royalty generally represents culturally whatever nation they come from, so there is
some diplomatic use to keeping monarchs around.
I do remember just how mad you got at the world when the queen stepped down, and my thoughts were along the lines of "dude, it's not like she died or anything. Seeing as she's still alive and you're getting a new king, shouldn't you be happy and not ***** at everyone?" Maybe others in the Netherlands were indeed joyous, but I myself couldn't see the big deal about all of this.
On the other hand, monarchies do have a very strong cultural presence in Western European society, and to get rid of it would tear a large hole in European history and culture.
So if I had to really phrase down my thoughts, they would be that monarchs are a nice piece of old-fashioned cultural nonsense.
