No, it is definitely unfair system due to its unfair launched. However, since its launching day, all newcomers have the same beginning, those ones have fair starting point. I guess newcomers will feel very happy with merit system, which give them chances to learn knowledge, get help easier.
The merit system is a fair one at stopping spam.
Be helpful, be constructive, be staying away from merit farmers; then merits will come.
But one can only get it through making meaningful posts and contribute positvely to the forum. There no other way to get merit and one can only rank up once they have required merit for each rank.