Even if there is a merit source there, I still wouldn't expect impressive results when you consider how many posts that board generates and how much of that is complete nonsense. If that person had 100 merits to allocate, they would probably still suffer finding enough good posts in any given month.
You are right, quality of discussion is really low and altcoin lovers found other places to discuss. Then again, if there are more merit sources present there maybe people would put more effort into their posts while now they know that no one really cares so they don't bother.
Altcoin board is in such a big mess that lack of merit sources is least of its worries, imho.