It should come as no surprise that millions upon millions of people are still mesmerized by Royal families.
The monarchs of old were merely replaced by 'elected representatives' in government, after all. We're still ruled, but the power of the ruling class has been somewhat diffused into different branches of government.
We're no longer ruled by ONE, but rather an oligarchical FEW.
People want to be ruled — deep down — because they believe 'authority' absolves them of personal responsibility.
It doesn't.
If government disbanded tomorrow only to be replaced by a monarchy, most Brits would embrace the idea. The concept of authority, and even Royalty, is still deeply ingrained in the collective psyche of the British people.