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It may seem like that. I probably wouldn't mind living under the rule of a wise dictator who is a humble person (again, a paradox of sorts). Probably, if I were born in 1930s, I would be more or less OK under the rule of general Franco in Spain.
With monarchy you have all that "subjects", aristocracy, the idea that the country is a property of a family,... really that feels humilitating.
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