Good! Meritocracy is a fake idea used to justify giving power to those who are already powerful, and the word was invented in order to satirize the idea[0].
The only time I ever hear it is from SJWs talking about how we shouldn't value open source contributors on their merit, but we should instead somehow ascertain their race and treat them differently according to it.
Yeah, how dare we promote people based on whether or not they are good at what they do.