I turned out relatively fine but I would rank my time in the "gifted" program as an active harm to that from what I remember.
They will be better educated, have more economic opportunities, more financial support from society, and be more well connected.
Meritocratic programs exacerbate inequality and grow the divide between the kids at the top and those at the bottom.
Maybe we shouldn't stop doing them, but we need to think about supporting the bottom, such as free lunch, without exception.
Free lunch doesn't do that. full bellies learn better, but if mom/dad have a "who cares" attitude, that is very likely to flow down to kids.
I also acknowledge the challenge of getting people to care. Its no easy feat.
https://www.theonion.com/in-the-know-are-tests-biased-agains...
Meanwhile, the kids at the bottom get left behind.