,,, to a degree, they're not stupid. It's an insurance policy. Once you have a Republic there's a greater chance of Clintons happening. We're just starting this debate here in New Zealand. There are about seventeen variations (to my knowledge) of how a Republic can be structured. For a start, Parliament, a President as Head of State and a Prime Minister - as Ireland has it, seems the best option for New Zealand. Aussie has an upper House/Senate structure. That's vastly more expensive than we can afford or need here. The Monarchy deal with a Governor General as the Queen's representative has served us well and underpins the Treaty of Waitangi, which is the closest we have to a Constitution.
What irks me when all is said and done is that Britain still thinks it has "the Empire". This comes thru initially with some Brits who settle here - and some English tourists.