If the only benefit is to enable us to avoid partisan, incompetent and arrogant politicians instead as head of state.....well, well worth it! Pence per year per head, and we'd have to pay for the replacement system anyway.
I dont think people bow down in a genuinely servile fashion these days, I think they do it out of respect to HMs service over 60 years, and also to be honest as a piece of theatre and fun dressing up. And that's OK, it doesnt all have to be Cromwellian misery and no music and dancing in life...:-D
But, as the saying goes, I may completely disagree with your view but I will defend to the death your right to hold it and say it....:-))