She has done it within the last 20 years I believe... she can’t change votes but she can force elections. So not completely powerless, but I get your point.
Though the Brits I know claim it’s a source of national pride and identity and brings in massive amounts of tourism that offsets the costs. So their argument is sure it serves no tangible purpose, but it’s cost neutral at worst and it is part of our national foundational mythology, so we ought to maintain it unless there’s a really compelling reason not to.