Yet the word was coined. It didn’t exist before. Then it was coined. Sure the made up BS that is meritocracy existed before. Which is the main point. It’s a BS status quo term for something that does not exist.

Is it BS if everyone with skill and imagination aspires to reach the highest level in a given field and is rewarded for their effort?

Would you rather have such a doctor treat you if you were to say, go to a hospital, or would you rather put your life in the hands of someone who is there to fill some coined up quota?