I'm sure the peasants people, aren't/ weren't fooled by the regime's wasteful expenditure.
As you say, things were possibly worse under the monarchy! Decisions influenced by the crazy Rasputin's hold over the Tsarina led to bad political appointments, but how could the Tzar not see the horrific suffering of his people!
The murder of him and his family was abhorrent, but the silence and apathy of their European cousins when their lives were in danger, equally so.
Many so-called democratic governments are no better either, especially here in South Africa!
At least these badges led to a hobby for the people. That is quite a collection!