However, these are private individuals funding private ventures with private money, as far as I know, so why the government should be involved at all in that process other than taxation isn't clear to me.
The Civil Rights Act didn't directly ban using IQ tests for hiring/promotions, yet that's how the courts eventually interpreted it [1]. More recently, a test specifically made to evaluate teachers was declared racist and discriminatory [2], mostly based on disparate pass rates, but in part also on requiring some "cultural knowledge". Ironic, since imparting culture is a large part of a teacher's job - outside of STEM, nearly all knowledge is culturally biased (i.e. there is greater emphasis on US history in the US than in Poland).
[1] https://en.wikipedia.org/wiki/Griggs_v._Duke_Power_Co.
[2] https://web.archive.org/web/20220714122944/https://www.wsj.c...
I guarantee you if IQ wasn't a measure that affluent white privately educated men did well at it would have never been adopted as a measure.
So it seems like the people who change like the wind here aren't those in favor of merits.
Even scientists who say the black-white IQ gap is not in part due to genetic factors agree that it does measure intelligence to some extent: that is, people with higher intelligence do better on average on IQ tests, even if each IQ point is not a numeral unit adding to your intelligence 'score.' All this said, why would you assume that people using this tests only are doing so for biased reasons?
[0]: http://harmful.cat-v.org/people/basic-laws-of-human-stupidit...