She destroys the idea of meritocracy that she herself presented so eloquently and discredits libertarianism as yet another excuse for those born wealthy to keep their wealth.
If an hair is not equal to his money it destroys him? Come on, what does it even mean to be "equal to money"? And how can someone who does not inherit wealth even prove that he or she is "equal to the money"? That's just the kind of fluffy nonsense that moral philosophers are so infamous for.
As she argues, money is a means of trading human production and value. To be equal to your money is to provide production and value to society equal to the value of your money. According to Rand, if one who is barely capable of ever making more than $30k per year were to inherit $5m, it would not end well. And actually lottery statistics support this pretty consistently.
You don't seem to get what I'm saying at all. Among those who are willing and able to provide production value are some who get a boost from inherited wealth and some who do not.
Do you consider that fair or consistent with a merit based society? I do get perfectly well what Ayn Rand says in her books, and based on that her stance on inheritance is grotesque.
If you put all of this together, you end up with the person of achievement not caring where others started (or what they inherited) in relation to themselves. Fairness only holds value when the person getting shafted cares enough to give it value.
Besides, Rand's argument is that over the long run, it really doesn't matter, as the person who is capable of producing great wealth will do so, with or without an inheritance. The person who is not will quickly squander it all and end up right back where they started. Her point is simply that an inheritance does not change one's ability to produce.