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Not if the monarch is an asshole.
Only if you are part of the monarchy.
A monarch can’t do all the political work required to create a well functioning state.
An absolute monarchy is the most efficient style of government.
Especially if the monarch is an awesome magical deity.
A monarch will always be more stupid and less well informed than a sufficiently large and well organized group.
Who would be the dictator? As well, why would a heretical monarch be best? And the monarch doesn't have the same interest because benefiting themselves through material possession takes aways from the citizens
If the monarch is competent enough, then yes. The main issue with monarchy arises out of succession. Can the next monarch continue his predecessor's success in reigning? Hereditary succession is common in monarchy, and isn't the most efficient way to find a good leader, to say the least.
In a modern society with a large number of people, it falls apart.
The meme of democratic reign and maximization of individual freedom has spread too widely for a monarchy to ever rise to world status without serious indoctrination.