One the the core issues with capitalism IMO is that it struggles to function as a meritocracy, because the reward for having merit - money - is itself an effective substitute for merit.
True! It's exactly what happens with, for example, the richest man in the world right now. Everyone loves him because they think he has so much merit, but he's just a glorified recruiter and/or magnate, he doesn't have any technical knowledge at all.
I get the hate about him, but it's reached the point where people just make stuff up and it gets swept up into "truth" just because it feels good.