Note that for the royal family, the ceremony and waste of resources is the point. The UK monarchs have generational wealth, but more power from celebrity than from law. The pomp, theatrics, ritual, and press keeps them relevant to the public. In return, they maintain the history and legacy of the UK: palaces, museums, and castles are maintained on the royal purse, but often open for tours to the public.
This perpetrates the idea that UK would stop having history & landmarks without the royal blessing. Other countries, with rich histories & tourist landmarks, survived the transition away from monarchy just fine.
If it's a racial slur, please stop repeating it.
Personally, I like it as a humiliating reminder of the contradictions of liberalism and the ruling class.