Is the Monaco Grand Prix Still Relevant in Modern F1?

The Monaco Grand Prix is F1’s most prestigious race, but in recent years it’s faced criticism for producing processional races where overtaking is nearly impossible. With modern F1 cars being wider than ever, the narrow streets of Monte Carlo rarely produce on-track battles. Yet the race remains a cornerstone of the calendar due to its history, glamour, and technical challenge. Should Monaco be granted special status to remain on the calendar regardless of race quality, or should it be held to the same standards as other venues? Could track modifications help improve the racing?

I think its important to the F1 brand and should be granted soecial status. I personally enjoy watching every year even though it is not the most exciting…
Are there proposed track changes that are even possible?