I'm not disagreeing at all. I'm just saying that isn't what IQ is. It correlates with all sorts of stuff and understanding those correlations is useful. But IQ isn't its correlations. I definitely believe those correlations exist and are pretty strong.
It isn't "Mental Horsepower" though. If something called "Mental Horsepower" or "General Intelligence" exist which I don't personally buy, IQ probably correlates with them but it isn't them.
IQ is a location on the point of a normalized distribution of scores on a specific set of tests. Nothing more, nothing less.
Correlations don't guarantee things to be true. If IQ correlates strongly with "Mental Horsepower" it could still be very possible for a specific individual to have high IQ with low "Mental Horsepower" although it is statistically less likely.