Why Bother Having MBE's/OBE's/CBE's?

The usual honours list has appeared with celebs getting MBE's, OBE's and CBE's. I don't know why they don't reform it, with an Order of Merit or Achievement award or something like that... because Member of the British Empire stands for being a member of an Empire that ceased to exist 40-odd years ago. People also get knighthoods for doing a skilled, but well-paid job they enjoy doing for years and years. Is it right that they should, when people who have jobs that they dislike, with comparatively little pay, who turn in skilled and competent performances, don't receive any reward whatsoever?