Meritocracy is not really Marxist. Marxism is more 'to each according to his needs' https://en.wikipedia.org/wiki/From_each_according_to_his_abi...

A Marxist tone would be more focused on getting rid of the elite class doing the owning things part. (which has proved difficult...)

Meritocracy is actually nearly as awful as aristocracy in practice. A better society would just be more equal across the whole population regardless of birth, merit or whatever. i.e. CEO pay is now 300 times average employee pay, something more like 5 times would be a very different society and still have room for some merit element And having wealth above a reasonable level shrink exponentially rather than grow exponentially through some kind of share ownership tax

Then Harvard just wouldn't matter that much