Exactly, and if one has a lot of hard-earned wealth thanks to their own smarts and merit and drive to work hard they’ll of course happily spend it on all the right things to make sure their kids have even more of that than their parents. With private education and all that blocks opportunities for kids in lower income families and increase inequality; merit becomes a proxy for wealth and as meritocracy matures it becomes more and more a rule of the rich. (Being “a proxy for” is not the same as “being confused with”, it’s just that one would more or less follow the other.)