World War I ended the legitimacy of the divine right to rule others by virtue of noble birth.
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That did not end very well for virtually any of the countries involved. Only the former Ottoman Empire really escaped any kind of widespread hell.
The former Russian Empire was under a totalitarian system for 70 years. The Austro-Hungarian empire first had to deal with the holocaust and Nazi conquest and then Soviet conquest. The Chinese had to deal with the Great Leap forward and Maoism. And the Germans had Nazism, the Holocaust, and years of turmoil in between the end of the war and the end of WWII. They also had their country split in half and the eastern part made poorer.
The British and Japanese now have a token monarchy. The same applies to most countries that still have one: the monarch is not the source of power.
What exactly was gained? Monarchical power was already on the way out. The French Revolution had clearly undercut the power of monarchs and they did not hold real power by the start of WWI. And abrupt lack of monarchy rather than gradual evolution seems to have led at minimum decades of torment in most of the places you name.
You could make an argument about ending colonialsim but WWII and Japanese conquest Of European colonies did a lot more on that front. WWI expanded several empires.
And the seeds for the recent and ongoing trouble in the Middle East were sown in the division of the former Ottoman Empire immediately after the war, as described in David Fromkin's book, "A Peace to end all Peace." (best history-book title ever!)
https://www.thriftbooks.com/w/a-peace-to-end-all-peace-creat...
Are the deaths justified? Of course not. But the world would be very very different.
WWI was a net boost to colonialism with European powers given nominal control of the former Ottoman empire; European colonialism was still going strong (and arguably still is) well through the middle of the 20th century.
US influence in Europe was only drastically increased after the implementation of the Marshall Plan after WWII, and obviously only in Western Europe.
It was a classic case of prisoner's dilemma: several powers solving a mini-max problem. What happens if I arm myself, what if I don't? Of course, the thorny question is what happens if I don't arm myself and my neighbor continues arming. But then, after arming and arming and arming for decades, at some point the question becomes what happens if I attack first vs what happens if my neighbor attacks first.
Unfortunately, in all these questions, when you contemplate the best outcome and the worst outcome, in 1914 history did not show any scary examples of really bad outcomes. All involved parties have been involved in various sorts of interborder conflicts where the worst outcome was not truly devastating. Russia had suffered a pretty bad naval defeat at the hands of the Japanese a few years back, France has lost some territories to Germany a few decades back, but all in all, all major European powers had experienced only success in their recent history.
Today, 100 years later, we have different answers to the same questions. Answers that will inevitably include nuclear holocaust. Does this mean we'll never see a major war again? I don't know what the future holds in store. I"m thankful that there was no major war during my lifetime, I can only hope there won't be one during my kids' lifetime.
Arguably it's just one 31-year war with a generation-long cessation of hostilities in the middle to mature more cannon fodder for the meat grinder.
If we look at physical infrastructure alone, the vast majority of Europe at the end of the first war was mostly intact. At the end of WWII, even this wasn't the case, whole cities and large parts of the continent's man-made landscape had been shattered into twisted ruins.
I am sincerely curious to see how you would qualify such a statement that WWI was worse for Europe than WWII.