This is true to an extent, although I know a number of merit sources, myself included, who will often merit posts they disagree with if they are constructive or contribute well to the topic at hand. The more important difference, though, is that regardless of how much merit or not a post gets, it doesn't alter its visibility. Anything slightly controversial, non-mainstream, or unpopular on Reddit, regardless of whether or not it is actually correct, might as well not be posted, as within an hour it is downvoted to oblivion and hidden from the majority of users.

It's particularly noticeable if you go in to a thread about a topic you are particularly knowledgeable about. I've seen blatantly wrong and sometimes even dangerous information be upvoted to the top, with attempts to correct or clarify be downvoted and hidden. If you can identify that happening in threads you are knowledgeable about, then the only logical conclusion is that it is also happening in threads you are less knowledgeable about, meaning Reddit can't be trusted for any meaningful discussion.