I think you missed the point of the article, which was "Harvard exists to make society less meritocratic, and it does that while subsidized by everyone else."
> Because selecting good people in a sea of resumes is HARD. Degrees aren't amazing proxies for productivity, but they are decent proxies.
The author discusses this: "The hardest part of Harvard is getting in." "High-stakes college admissions means that much of the value of a college degree is determined before students even start college. If you must mark and sort young people, gross, but OK. But why do it at 18 rather than 22?"
On a personal note, I was accepted to an Ivy League school (though not Harvard) as a high school senior, but my family couldn't afford to send me there, so I had to go to a state school instead. My classmate and friend was accepted to MIT but also had to go to a state school because of money. This was decades ago, so perhaps things have changed recently, but my higher education was gated on my family's wealth, i.e., lack thereof. Was it a "meritocracy"? No fucking way.