They serve an important societal and cultural function, you probably just don't understand.

Without the landed gentry it's estimated that within a single generation, Britain's long standing tradition of pederasty would be gone.

Won't somebody think of the little boys, and the aristocratic men who lust for them?

We got rid of almost all of the hereditary ones, I think we are down to 90 out of ~800. So while they are not all gone it’s getting better, now we just need to sort out the “cash for peerage” lords. Having a second chamber to sanity check the parliament is not a bad idea, as long as they are genuine experts granted peerage after a lifetime of service to the country or their field.