Against my better judge and my promise:
1) The operative word is “essentially”.
2) Thus what is their (royalty) purpose?
3) Don’t you find it quite illogical to bestow such (privileges) to a few people who have “ essentially “ no power?
4) Don‘t they cost? A lot?
5) What have They done to be granted such honors and such privileges? Born from some “special” people?
I could ask many more questions but if their subjects think of this arrangement/device and its hereditary granting as a suitable and reasonable form of function ...
The family has immense wealth.
The financial deal the Monarch has is that the income from all her estate goes directly to the exchequer, ie she pays 100% tax, and there is a thing called the "civil list" which is an agreed budget that gets paid back to her to run her "business" which is entertaining foreign heads of state, opening schools, factories etc..
The "working" members of the family actually have pretty full diaries, though Prince Philip effectively retired when he was 96 (!), no longer carrying out any of these duties and the Queen has handed over a lot of her obligations to her son and grandson now she is 95.
She carried out 341 official duties in 2016, for example, so pretty busy until she was 90.
I do think it is a bit of an anomaly myself but it is popular with the majority of the population and brings in a lot of tourists, whether they cost "a lot" or pay for themselves directly and indirectly will be impossible to find out but personally, if I were as rich as they are I would much prefer to be out of the public eye and scrutiny and enjoy my wealth in my own way.