The SAT was never an IQ test, and it certainly doesn't measure "merit", whatever that is. It's a Scholastic Aptitude Test, and it isn't particularly good at that either.
If we had a good "test for merit" then we could directly assign people to their roles and ignore their actual performance.
> It's a Scholastic Aptitude Test, and it isn't particularly good at that either
It’s a pretty good measure for how a student will do in their first year in college.
"Aptitude" was dropped from the name back in 1990.
https://en.wikipedia.org/wiki/SAT#Name_changes
It may have become something of a dirty word ...