TN, I think the idea is that after the State in the guise of the Sovereign, Political Leaders, Churches and other Faiths, and British Commonwealth and Dependencies representatives, has made its tribute, then it is the turn of its citizens, in the guise of Veteran Organisations, Emergency Services, Voluntary Organisations, Youth Movements, etc. Personally I think that to be wholly appropriate. Welcome as the spontaneous approbation of spectators for the Veterans is, they would be the first to insist that they are not there to be acknowledged but to bear remembrance to the fallen, as epitomised by their eyes left to the Cenotaph as they march past it.
It's a well established routine that is occasionally tweaked (witness the single FO Wreath being replaced this year by individual wreaths laid by representatives of the Overseas Territories, as well as the wreath laid now by the Irish Ambassador). As with all things British, evolution rather than revolution!