Indeed, and it also creates a permission structure to make moral judgements about those deemed unsuccessful by the standards of the meritocracy, both by the successful and the unsuccessful, and that breeds the sort of resentment being exploited by the likes of Trump and Farage.
My problem has been seeing dim-witted well-connected ppl or immoral chancers get on… The ethos I was raised in (late 1960s-1970s) told me that I shd be able to do anything if I succeeded academically. I loathe the lauding of 'prodigals' who 'made it': always thought that an immoral fable.
I'd really recommend Sandel's work as he reflects a lot of what you've experienced in his own thinking or meritocracy.
Tbh, I don't rlly have time/inclination to read outside my historical/art historical researches, these days.
I support meritocracy: I believe there's nothing wrong with élitism based on ability & achievement, but there shd be a proper safety net below. That's why I think UBI is a good idea. When I was child (late 60s-70s) there was a proper safety net: cdn't imagine how quickly that wd be dismantled.