Yes i think it really help a lot, it reduce the shit poser just want to rank up, in addition merit really require quality post that really helps the forum and the reader as well.
The shit posters who were here making useless posts through multiple accounts to level up and participate in signature campaigns will give up now. They have realized that this merit system is not going to be taken back and are thus posting constructive posts. This is reflected in the post we are seeing in the meta section from new members.
Merits helps a lot in this forum. but the system cannot garuantee a 100% that all spammers will not post out of topic or un useful post especially the higher ranks (full member up) they didnt care about merits. They post for the sake of their bounty campaigns to get rewards. But this system are doing better nowadays it lessen the shit posters.
There are requirements fro higher rank members to have certain number of merits earned to get better pay in signature campaigns. I think as this system gets old, we will have campaigns only allowing members (for all ranks) with some merits earned.