Theymos just announced the new function about Merit points and he got a lot of sMerits so why not ? What is the point ?
The point is that it looks a bit fishy that someone has gained merits for fairly normal posts. Merits for posts that are very useful, helpful or good quality. Not post that other users probably have also made to a similar quality before (especially anything above 10 to give for a single post).
It does seem very quickly that people have started to abuse the system already.