Why you didn't posted in one of the many already existing threads about Merit system? Is it still not enough threads that you had to create new one? 
When Merit system was introduced, I only had to get 19 activity to get chance to become Legendary member. Now I also will need to get almost 500 Merit points. I'm disappointed? No. Hero or Legendary member, it's not really big difference for me. But I understand why new members feeling frustrated. Anyway, if you will post good content, you will get more or less Merits and you will reach high rank one day. And don't forget to give sMerit to other users, there is no point to hold all your sMerit untouched.
I general, this system have more benefits than disadvantages. Something similar has to be done in fight with spam. We only need to wait some time ti see, how efdective this Merit system will be.
When Merit system was introduced, I only had to get 19 activity to get chance to become Legendary member. Now I also will need to get almost 500 Merit points. I'm disappointed? No. Hero or Legendary member, it's not really big difference for me. But I understand why new members feeling frustrated. Anyway, if you will post good content, you will get more or less Merits and you will reach high rank one day. And don't forget to give sMerit to other users, there is no point to hold all your sMerit untouched.
I general, this system have more benefits than disadvantages. Something similar has to be done in fight with spam. We only need to wait some time ti see, how efdective this Merit system will be.