I think it's generational. SV in the Gen X era was highly libertarian. The Millenials in SV seem to be mostly left wing or even socialist. Broadly speaking that is, exceptions abound.
Meritocracy is not as good an idea as it seems to be in practice.
Why not just consider that it is a label which may not apply to the reality you observe? Have we gotten to the point where considering that any X is not Y is considered a "no true Scotsman" fallacy?
Gen Z, also known as iGen, was born in the new millennium.
The first time I heard the word millenial was 2017.
This world is weird. But in a world were people can choose their gender freely I think I can have the choice to use that word as I see fit. Feel free to do the same. ;)