It was a grand ceremony of the rich elite to show just how rich and elite they are.
I am of British descent but I'm not a Royalist.
Monarchy is good for the UK. The monarch has no political axe to grind and can speak out for the people in her weekly meetings with the Prime minister. Also she's totally self-funding. She's inherited massive land-holdings and retains just 15% of the income from those holdings. The rest goes to the UK Treasury.