The monarchy family reaches back to Greek formations about one ruler. The components describe singular rule. A crown or a hereditary family may belong to a monarchy, but neither is the literal first piece of the word.
This view explains the components. They are pieces of one construction, not consecutive borrowing stages.
Sources
- Merriam-Webster · monarchy
Formation of the word.
- Merriam-Webster · monarch
Meaning and history of this component.
- Merriam-Webster · mon-
Meaning and history of this component.
- Merriam-Webster · arch-
Meaning and history of this component.