According to whom exactly? There is a very large body of work predicting chess outcomes, productivity in maths, etc. in the upper range of the scale. Maybe it is not as proportionally meaningful (i.e. in most cases people are not running up against a limitation in general cognitive ability), but that doesn't mean it's meaningless, it means you're trying to predict the wrong thing with it.
I think a lot of this rhetoric stems from insecurity. I don't know my IQ, I don't personally care, but if somebody produces a study with me included then IQ (or similar measures) could yield good results.
It is not useful for all questions, nor is it useless for all questions; it is a simple measure of a specific stable characteristic of the mind, which is correlated to other characteristics which are harder to measure or predict any other way. IQ is not intended to judge your overall worth as a human being, it is just there to estimate your general cognitive ability. The fact that general cognitive ability is not sufficient on its own for you to succeed is immaterial to its utility as a measure.
All that said, what you said still doesn't contradict Taleb. Being able to (badly) predict a narrow range of outcomes like chess makes IQ a lousy indicator with respect to the ambition of psychometricians to elevate it as the best representative of general intelligence. Or to put it into other terms, if the best you can come up with is that, better drop the whole thing and move on to what actual hard sciences can show us (see the GGGP paper).
That is not a tail-end case, it is a huge number of people, about 28 million in the U.S. alone.
Wishful thinking is not a substitute for science, and IQ is (as far as we can tell) a good predictor of general cognitive ability, which is in turn a good predictor of a great number of things. If you think you have something better, we're all ears.