Another thing I noticed in the merit system: almost all merit goes to people who already have merit. It's like in society, where rich people, like to be around rich people and help each other getting richer. If a newbie (or poor guy) comes up with something he/she often does not get the credit for it.
I would send you a Merit-Point. But I don't have any left. Because I think you are right - you made a good conclusion. For well-established users its easier to get merits. That why i proposed the change to let people rank up without merits. But don't let people use signatures without merits. There are a lot of prejudices. Prejudices against the post of newbies.
I kind of agree with this sentiment, what we have to ask ourselves how much can we lesson the impact of continuous unrelated posts that fill our boards. Account farming is a problem mostly those that engage in bounty hunting but we will never eradicate the problem entirely.
And I agree with your post, you will most likely receive more merits from people that you know or in your circle, the merit system still needs more work but I guess its work in progress at this point.