Well, at least the results their were explicit in the law --- the representatives of the people were directly consulted about the matter at hand. The phillanthropy-privatization process elsewhere is quite subtle and I am not sure many people have followed it end to end.
Well, in 1923 t was more a deal between the king deposed by the 1918 post-WW1 revolution and conservative politicians. Since then, well, it is something we Bavarians don't talk about much. It basically is a state-funded, oversight free way to pay stipends to the former Bavarian ruling house. For longer now than the Bavarian kingdom ever existed.
The Wittelsbacher family got of easier so, than the Habsburg rulers (they lost everything, Austria even went so far to abolish every single noble title) and the Hohenzollern of Prussia. I guess it helps not being in the main crosshairs of the Entente back then.
