Not RIP at all. "Meritocracy" was coined in a book literally warning us about how terrible such a society would be: https://en.wikipedia.org/wiki/The_Rise_of_the_Meritocracy

The "top-enders" are the privileged who need to have some of their gains for their intelligence redistributed to others. The alternative is "survival of the smartest", which is de-facto what we have today and what Young was trying to warn us about.