The implication, and very sensible one at that, is that just because you are from a poor family, doesn't mean you don't have "merit". Some portion of an Ivy League credential reflects not your merit or potential or contribution to society, but inherited privilege, connections, luck etc.

Meritocracy in such a situation is like having a fair race when one competitor has a motorbike. Yes they are objectively faster than the runners in certain circumstances, but that's not due to their merit as a runner, from a combination of natural aptitude and years of dedicated training and focus, it's because they're on a motorbike.

If you really need something delivered quickly, then the short term solution is to ask the guy with the motorbike. If the aim is to get the human race moving faster in general, then giving everyone a motorbike is the answer, not pretending against all evidence that the people with motorbikes are inherently superior beings and just naturally good at running.

Then you can choose the best motorbike rider and get something that approximates a real meritocracy.