> But we don’t feel threatened by the fact that technically the monarchy has sweeping powers to dissolve government and walk away with our freedoms.

FWIW, technically they do not have that power. In a constitutional monarchy the monarch is subject to the constitution. The king can't technically abolish canadian parliment anymore than the us president would be able to technically abolish congress.

Of course there is a certain truth to the idea that its all a social construct, and anyone can abolish the government if they are backed by a large enough number of people with guns.