I don't have exact numbers without digging them up, but from what I've seen, there's more Merit going around now than we had a year after the introduction of the Merit system, while we have less new posts.
You may notice the difference if you dig a little bit. If we remove merits shared from WO, ranking up threads, merit review threads, and forum drama/politics, the activity on merits shared that's actually related to crypto might decline a lot compared to the past.

Quality of posts decreased? Probably but if we concentrate on Bitcoin, we can't come up with new ideas every day but rewarding something that's not pure spam could be a new criterion.