Continuing from tradition, the tradition I think we are preserving are the ANZAC soldiers and their role in WW1. I also want to acknowledge that at the same time, ANZAC day is an opportunity for frivolous nationalism and the majority probably do not welcome that by any extent; I would however, respect the "for king and country" mindset that the ANZACs held. An Australian republic would almost discredit and dishonour the vain attempts of the ANZACs fighting for the commonwealth.
This is a really interesting point. However, I'd in fact argue that by becoming a Republic, we are further honouring the ANZACs. I say this because:
1) Following the role of the ANZACs in WW1, Australia came to be perceived, globally, as more of an independent nation. Consequently, an Australian Republic would uphold the memory of the ANZACs by continuing what they so greatly influenced - Australia's independence and national identity.
2) Ultimately, I feel like the ANZACs were never fighting for the Monarchy in WW1. Instead, I believe the soldiers were fighting for
their families and
their country - not another family (the Royal Family), nor another country (the UK).
Additionally, I think it's extremely important for people to understand that Australia could, and most likely would remain in the Commonwealth of Nations, despite becoming a republic. In fact, the majority of countries in the Commonwealth are republics.
If you haven't inferred from the above, I am a big supporter of Australia becoming a republic. Primarily (amongst other reasons) because I strongly disagree with someone simply being born into a position of Executive Power. I find this practice quite archaic, undemocratic and frankly bullshit.
Spoiler
Funnily enough, Australia becoming a Republic was the focus of my Year 12 Oral Presentation back in 2016.