No one is saying that the "royalty" direction should be in the same angle as an axis, or that it should be in the same direction every time you train word2vec of course. It doesn't mean that that direction doesn't exist, and that word2vec doesn't code for such a Royalty direction (or region)
Well, obviously, all royalty are going to have similar vectors. The skipgram is just an implicit matrix vectorization of a shifted PMI matrix. And most royalty will have similar co-occurrences. My point is that the vector components do not mean anything in isolation. There is no dimension directly encoding such properties. The king vector means 'royalty' because queen, prince, princess, etc. are have similar directions.