Allowing inheritance from one generation to another is an immediate disqualifier for meritocracy as well. As is the existence of private schooling bought with money.
Inheritance has nothing to do with meritocracy. One can argue about whether or how much inheritance should be taxed -- but that's a wholly separate, topic.
Hiring, raises, and promotions should not be based on skin color, eye color, gender, or other immutable traits. In a meritocracy, these are instead determined _solely_ by how provably capable a person is (per Dr. Martin Luther King Jr.'s prescription).
In fact, Meritocracy _would_ explicitly reject the idea of "inheriting" a job (as is done in orgs with nepotism), so I'm confused as to what your point is.
You really pick 'equity' as the example? I get thats it fashionable to hate on woke politics around these parts, but aren't your forgeting that most of the world is more like Russia, i.e. jungle, where stongest rules because they can, with mirderous intent.
I mean if you are talking about principles of life, its got to be universal, not just applying in a handfull of fortunate countries.
The principles of we go by, they are in conflict with one another.