What does the cryptic crossword clue "Former monarchy's ideal is to lose power (6)" mean?

The definition is "Former monarchy". The wordplay uses a deletion. ARAGON (deletion) = ARAGON; definition: "Former monarchy's" The answer is ARAGON.

Former monarchy's ideal is to lose power (6)

Times Cryptic #28959 | 6 Across | 2024-07-03 flower