Agree. Rapid collapse of USA and end of short-lived French Republic in 1795 caused much of discrediting of republicanism. But you have still make something discredit monarchies and it is quiet difficult to do. I don't even believe that France is changing as republic. Monarchy is still very popular.
Granted, the rapid collapse of the USA was in part because of the weak central government is possessed in tis early years which doomed it as the various states squabbled. It's why it got reduced to four nations (New Angland, New Frisnia, Commonwealth of Virginia and Commonwealth of Carolina) afterwards. It allowed the indigenous American tribes to rise up and form "grand chiefdoms" (they're like elective monarchies), such as the "Five Civilized Tribes" forming one and the Iroquis nation having one as well.
Had they compromsied and worked together, they would've been unstoppable.
And even now, most monarchies are constitutional or elective monarchies. Mexico (the great power of North America) is an elective monarchy based on the old Aztec system though with elements of a constitutional monarchy. And mind you, monarchies have come close to biting it as the socialist uprisings have shown. They managed to avoid it because the monarchy decided to support the socialists and basically used their cultural weight behind it. That's how the superpower we call the Cathay Union (the weird UK-like system China, Mongolia, Tibet and Manchuria has) came to be. Sun Yat-Sen assisted in restoring the Ming Dynasty into power with the heir actually becoming a socialist (with the former Qings decided to head back to Manchuria and the Prince leading the Manchus there).