This is not very compatible with the idea that all humans have equal value, it's rather the opposite. It's very much a "class society" thing, at least in some respects.
Note: I'm not saying I oppose, I'm trying to explain what could be dubious about the concept.
That's because they don't. Pretending all humans have equal value is insane, and stupid.
This is why we have pass rates of 97%+ in school exams. Because of loonies who refuse to acknowledge that people are different, and have different strengths and weaknesses.
The title is no different to becoming a Doctor after getting a PhD. Here, you become a Sir after getting a knighthood.
It could be said that the PhD title is equally dubious as it also automatically commands more respect. The only difference is they both come before the name and not after (as with MBEs, OBEs, academic qualifications like BSc (Hons), etc.)
But anyway, isn't that the purpose of a title?
Given that knighthoods are usually handed out based on merit I think that's pretty much the opposite of the UK class system (which is not based primarily on wealth and therefore doesn't have an implicit link to merit).
While the lower orders of knights are generally given out on merit the higher orders are not. At least as far as I'm concerned.
The UK Class System is inherently based on a pecking order and the top of the pecking chain is kept for those who are more anointed than useful.
Take a look at this list. It is two orders higher than most Knights (and therefore two orders more special). Are they two orders more deserving?
It would probably better if the system was a sort of "living blue plaque". There are people who have genuinely made the country a better place, either in business, arts, science etc - they should get recognition above those who simply became a permanent secretary.
That said, I like the tradition. It's good to reward people for hard work, especially for the non-celebrities who rarely see the limelight.