What's in a name?

A BBC presenter at the Commonwealth Games referred to "the principality of Wales" and this it seems has provoked anger, fury even, from some Welsh social network users,  Why??  Do you have a monarch - no? - then you are not a monarchy.  Do you have a president - no? - then you are not a republic.  Do you have a Prince - well yes, nominally.  So you're a principality - get over it!