We feel that on the overall, meritocracy is a fair and good system where people are judged based on their talents/abilities/merit. One might argue that meritocracy still doesn't completely level the playing field. This is because people coming from a more well-to-do background would have an upper hand as compared to the lower income families in terms of education. However, there are multiple cases of people coming from a poor background achieving success in their lives.
We must also remember that talent alone can achieve nothing. Determination and hardwork are also crucial to success in a meritocracy.