It is more like an oligarchy. The king is a figurehead for others running things behind the scenes and an excuse to keep things the way they are.
There are a lot of interests that don’t want the government that the Thai people have been voting in for the past generation.
Yeah, but the problem aren’t the monarchs themselves. It is the state apparatus around the monarchs that keeps fighting back.
Even if you removed the Thai monarchy, I could easily see the country fall into being run by a junta or presidium of high ranking officials to “safeguard the country”.