Its not a modern Republic. In History the Republic switched to the Empire because the Republic was not able to manage the expansion in the first place. In short form you can say: they tried to manage the empire like a town and only for the one town. Later on the first argument against Republics was excatly this. Its the best form for manage small towns.
We can also say for the modern time that having a Empire works not so well with having a democracy. Military and Security and "Nobles" start to play a biger role. I don't want to start a political discussion, but the USA are often blamed to go the way of the roman republic.
Its a game and i wantr deeper and more interesting mechanics for the governments. But so far the advtantages of a Monarchy are are not bad done. I switch to the Empire so soon i can.
Rome became an empire because greedy aristocrats hollowed out the state and started fighting to see who got to be the top dog. It had nothing to do with efficiency or an inability to rule or anything like that. Neither the republic or the principate really managed the empire particularly well
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