Monarch to Cheerleader

It's quite interesting to think that there once lived a time where if one were to speak ill of royalty they could be sentenced to death. This is something Queen Victoria could have done during her time. The queen could announce that the country was at war, write laws, and sentence punishments. Royals now, even queens who supposedly have lots of power, cannot give any form of punishment like death anymore. Queen Elizabeth goes to famous store openings and cuts the ribbons at the front door of the store, officially announcing its opening. Royals don't nearly have as much power anymore. With no real strength, what are monarchs really; just a well known figure walking around for attention? Isn't that the same as a cheerleader?

Queen Victoria on the left and Queen Elizabeth on the right.