Well, here's an American's take:
First of all, for some really weird reason, I am interested in the shenanigans of British royalty. I stayed up most of the night to watch Charles and Diana get married, and I'll stay up to watch Wills and Kate get married. I was frankly fascinated with the whole glamourous tragedy of Princess Di and I think Wills is simply dishy.
As a history buff, I realize that the UK plays a huge part in my historical heritage, both as a US citizen and personally (my ancestry includes several prominent British families which are traced back to the 1500s and earlier). So I make that excuse for myself as I add yearly to my collection of British comedies and books about the royal family.
Currently I'm eyeing the complete Vicar of Dibley collection as a birthday present to myself...
BUT - part of my fascination is along the lines of the fascination a person feels watching vehicles slowly slide into each other on an icy road.
Frankly, I think the whole concept of a monarchy is pretty ridiculous. But at the same time, I also realize that these peeps ARE born into it...and, well, I don't think I'd feel quite dismantling 1500+ years of history and tradition by getting rid of the institution if I were them.
My family owns 100+ acres of timber and mineral rights, along with a big, beautiful, sprawling house that's over 100 years old. The land has been in our family since the 1850s and at one time my ancestors who lived there owned slaves, whose sweat in the fields added to the family's wealth. Now - of course there's been no slave labor in my family since the 1860s (though generations of teenagers may disagree with that statement), and yet the wealth produced on that land has increased over the decades, and been handed down to generation after generation. Those people, including my father, have managed things well. My brother and I will inherit this land and continue to manage those assets.
I don't think anyone else deserves that land any more than my brother and me -though I'm sure at some point Caddo Indians and slaves and exploited sharecroppers and underpaid labor worked and sweated on that land. But there's nothing that can be done about that now. All we can do is manage what we own responsibly - we can't go back in time and undo wrongs from 150 years ago.
Of course we're not royalty but I can't help but see the same principle on a smaller scale.
You got a Queen? Whatcha gonna do with her - put her out on the street? I think not. But there's nothing wrong with expecting them to work hard for the good of their country, pay their taxes, and stay out of political arenas which are not appropriate for them to be involved in.