People want agency and in a monarchy, the king has supreme agency which historically was justified with the devine. With the people not believing in this devine choice, I don't see how you can have them accept some king to be above them.

Democracy at least removes this blatant inequality and while some are voted into positions of power, that power has constitutional limits like term limits and individual rights.

But in the end, all power gets abused to gain more power, even if it's only the power to hand out favors for the next four years and that's why I hope that unconfiscatable, sound money will fix this concentration of power in all countries, regardless of what their cabal of leaders calls their system.