It's interesting how people never even learn about any upsides to that. Even if the balance comes out on the side of elected officials, it's good to at least have some idea of why so many societies have worked like that (other than "they were dumb and evil I guess").

The main thing is long-term stability and limits on backstabbing and ruthless competition. Sure it doesn't bring it to zero, plenty of bloody examples from history. But when someone gets close to power for the first time and might be out of there quite soon, and have to watch out for being replaced quickly, they will behave quite differently than someone who plans ahead in decades and generations (if all things go well). If you have a short time under the sun, you better extract all you can while it lasts.

It's kind of like a lifetime appointment or like tenure, except also across generations. Tenure allows professors to ignore short-term ups and downs and allows them some resilience and slack (though funding is still an issue). Similarly a nobleman can "relax" and take a longer-term view on things. The failure mode is that they stop caring and become lazy and just enjoy their position.

You already get this in the UK, and also in other countries, most of which have royal families and associated aristocrats.

There are also - notoriously - foreign-funded influencer, lobbyist, and donor operations.

And the traditional industries - fossil fuels, property, finance, arms - also have a huge say.

The reality is most decisions aren't made in Westminster. Parliament is a device for packaging and legitimising decisions made by the oligarchy. And the House of Lords is largely ceremonial.

It's not there to shape policy, it's there to provide a reward for loyal service to the country's real rulers.

Being in the Lords is a very nice deal. You get up to £371 a day just for turning up, with the option to claim expenses on top of that.

You get access to high quality heavily subsidised food and drink. And you get the status of being a lord, which opens doors if you happen to be someone for whom they weren't already open.