110 merit sources in a forum of over 3.4 million members is rather too small, way way smaller than I even imagined, I did not forget the fact that majority of those 3.4 million members are newbies, but I think more merit sources are needed not withstanding.
The number of users doesn't mean anything: many of them are never used because of evil fees, many are spambots, many are banned, many are bounty spammers and many others don't deserve Merit anyway.
As of last Friday, only
44,190 users ever received Merit.
By saying the total number of Merit sources isn't enough, you're basically saying there are people who deserve to rank up, but are limited by Merit. I don't think that happens much in the English sections, but it could very well be the case on some of the local boards.