Regardless of his lineage (which he has zero control over), Harry has done some very, very good work for charity. People have received knighthoods for riding bikes quite fast and playing football. I’d say his knighthood is far more deserving and is a recognition of his work.
Is it bollocks. Fair play to him, he’s managed to motivate himself to help others a bit which is nice of him given he doesn’t need to worry about earning a living.
Ignoring some of the questionable KBEs over the year (e.g. Saville, Goodwin et al) most have got them for exceptional achievement or a lifetime of endeavour in some field. I fail to see how Harry has done anything exceptional given where he started from.
There are folk out there who, after doing a proper days work and worrying about housing and feeding their family, manage to do great things running sports clubs or doing charity work. If they are very lucky, after 40 years of this, they might get the nod for an MBE. Harry gets a KBE for basically managing not to be a complete reprobate* and making some use of his time.
*this is up for debate, given he has an entire PR department and compliant media to present his amazing achievements in the field of f*** all.