The other theory is that they went to Portugal and Scotland. Regardless, over time they spread out again and decided that republicanism was far safer than attempting to control monarchs that could go rogue.

If I recall Philip had previously deposed a pope, which is why the papacy didn't do shit when he arrested and executed masons.

Often missed is that at that same time, Philip also exiled the jews, assumed the debts owed to them, and forgave all interest.