I don't disagree with you, but in the whole scheme of things, there are not very many merit hoarders.. so in that sense, it probably does not matter that much if you send merits to ONLY the hoarders because there are plenty of folks who still give out smerits.
True, so far I have found that there are so many merit sources or merit contributors who have the LOYALTY to issue sMerit to users who deserve it. Merit hoarders are only done by people who are stingy or can't appreciate the education of other users, but this case is very rare.
Merit sources that are chosen are really the right people and contribute a lot to the forum, they will always check the posts that are worth throwing sMerit. So I'm not too worried about sMerit hoarding users, because the forum still has contributors who can appreciate constructive, informative, and quality posts.