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.
Yeah the real power, their wealth and land was never taken from them. Iirc in the UK some bill that would've helped tenants in some way was quietly quashed brcause it wouldve affected the one of the royals feudal profits.