NGL, I've always found societies like this and in cultivation novels such a farce. They would literally either collapse under the sheer incompetence of their supposed rulers or someone would revolt and cleanse the government of the morally corrupt.
I suppose that could be what's happening here, but the taint is too ingrained. The commoners seem too affluent for the kind of suppression and misery that would be afflicted upon them generation by generation under this system.