I appreciate the well-sourced comment, upvoted. Although I'm not sure exactly what you're arguing. All those points I agree with. Any discussion of IQ must be based on a realistic interpretation of its meaning. But this doesn't mean it has no real world value at all.

I would disagree with the focus on ability to do "academic" work as the only useful result from IQ. While academic challenges is the "tool" we generally use to measure IQ, it is likely to be measuring something that goes much deeper than just academic ability (g factor). This can be seen by the high correlation between different types of intelligence tests. The academic style questions are simply the tool used, since its assumed that most people have had (roughly) the same exposure to the concepts.

The most obvious real world result would be that people who have IQ, and thus have a mind that is able to perform academic work at a high level, would also be able to perform various "knowledge based" work at a similar high level. It seems pretty obvious to me that there is much crossover in the mental faculties needed to do academic work and "real world" work of business value. Since this is the direction the world is moving, it seems short sighted to want to dismiss IQ as having no real world value.