I don't care how much "real" power they have. If you actually believe in a meritocracy how can you defend someone getting a job because of their lineage, attending real political events and ceremonies and influencing policies that way? And let's not forget that in many cases, they ACTUALLY have institutional powers they just don't use because they don't have to, the institutions serve their interests all the same.
Sorry for the pointless rant. It just happens way too often.
Even in the cases where they don’t have much legal clout the modern royal still gets a load of cutouts and are sitting on an assload of money, don’t they?
Considering they still own, in way or another, their aristocratic estates, yes.