I forgot who wrote it, but I remember reading a brilliant essay that most people's depression now days comes from the lie they're told from birth that they're born equal. That you can be anyone you want to be, that the American dream is real and you can get rich from hard work and smart investments. That lying to Americans from birth like this makes them think something is wrong with them. That they see rich people on TV and they think, "well I could do that" and resent themselves for not doing it.
In fact, we are not born equal. We are born into socio economic spheres and given advantages or disadvantages based on that birth. If you want to succeed in some fields, doing so without that socio-economic background would be difficult, or near impossible. I think having a royal family is a good reminder to people that sometimes life isn't fair. Sometimes people are born into a fuckin heap load of money and you weren't and you can't do anything about it. A royal family helps people focus on themselves, and externalize their problems instead of internalize them.