You asked me the meaning of royalty.
It seems my answer doesn't satisfy you.
Then, I suggest you look it up in the dictionary:
Royal, of, pertaining to, patronised by.
King or Queen, majestic.
Royalist, supporter of monarchy:
Royalty, state of being royal.
Royal persons collectively.
Oh little boy; you've a lot to learn.
You ask what do we need royalty for?
And, how can you become royal?
Well: You can't if your poor!
And the little boy opened up his eyes.
Capability Red 1976
