Who said current one is not working? Without altcoin section, I think all other board is working better than previous. Lots of shitposters stopped shitposting just because  they can't be a jr member to wear the signature.
Do an experiment between ranked accounts before merit system vs after merit system. I believe you will get the differences and how much appropriate the merit system is.
FYI, those persons who are helping the community members, meanwhile posting some good quality posts are getting merits regularly.