What actual problem would electing the monarch solve? There are many people in the world who currently have some form of legal privilege by virtue of bloodline

What actual problem would electing the monarch solve? There are many people in the world who currently have some form of legal privilege by virtue of bloodline. For example, many indigenous people. I don't want to get into a tit-for-tat about this. For me, at worst The Queen seems benign at best a proud symbol of a great nation.