I would keep it. It keeps kitchen mess out of view of guests eating at the dining room table. It also provides a lot of storage for your kitchen.

Keep! Removing that wall opens up a can of worms with the sunken floor and needing a wall for the fridge.

in what context? in other words what do you have in mind if you removed the wall? you are not using the peninsula for seating. if you used an L shape or just the long wall / got rid of the fridge wall /or cleared the wall... and eliminate the peninsula you could have an island w stools facing your long wall . this isnt just "removing the wall" but rather an entire kitchen renovation. it seems coming in from patio doors these kinds of seating options incorporated into a kitchen plan would work well for the space.

what do you have? about 16-18 feet from patio door wall to fridge wall? If you recently bought the home just think out some ideas.. the kitchen isnt malfunctioning or broken down but the options for this kind of a space are numerous and maybe in the not distant future a total reno would be warranted. these are nicer looking kitchens and would be an improvment over what you show in looks and versatility of the space you could create.

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I can see removing the wall, but I'd absolutely raise the dining area floor to go along with that. Then you have a good amount of space to work out a overall new floorplan.

Keep it. Removal will be complicated by electrical, HVAC (return air & thermostat) and differing floor heights.