I thought it was between monarchy and democracy.
And although it is veering off at a tangent from the original video, I'd point out that there are people who would die for symbolic monarchs they have no personal connection to. It's what they symbolise that counts.
Conrad started to draw a comparison between hereditary privilage such as in a monarchy and the rich as a hereditary class. While I see the point, I don't think that they are quite the same.
Symbols, of course, are great - and the emperor was an important symbol for many of the older generation of Japanese, not so much for the younger folks, probably less so for the next generation. Times change.