Except the numbers are off by orders of magnitude. That's the opposite of quality, especially considering that the whole subsequent argument is built on those wrong numbers.

There are ~25k users who received merits. So "top 0.02% of merit receivers cycle over 50% of their merit between them" would mean that the top 5 merit receivers (theymos, satoshi, LoyceV, hilariousetc, Last of the V8s) sent 50% of their merits between them. There is plenty of data on the Meta board (threads by DdmrDdmr, LoyceV, Piggy just to mention a few) to prove that false. Just poking around on BPIP can show you that e.g. satoshi is hoarding all his merits and not sending to anyone.