I don't think people in Britain do realise the system is unfair.
The political system is currently having a meltdown because it has done an excellent job of eliminating the non-rich, but an absolutely terrible job of finding rich people with real merit.
So we've had a few years of entitled morons - not an exaggeration, in any way - from all the best schools and universities doing and saying incredibly stupid things.
And yet... the polish remains untarnished. Oxford and Cambridge are still considered ivy-festooned havens of academic excellence, and not bought-and-paid-for finishing schools for academically mediocre plutocrats.
A handily supportive media means many voters still trust and respect the plutocrats, in spite of the evidence that they're essentially just self-serving wasters, and not too bright at that.
It's too late to return to an aristocratic system, because we already have one. So, by all accounts, does the US - although both are camouflaged by an expediently deceitful narrative of tough self-made meritocracy which is wholly dishonest.