I’d argue a meritocracy is impossible. how does one determine the best person at writing marketing copy, or mowing lawns, or cleaning gutters? You end up creating a race to the bottom of speed, price and lack of safety or security. Only the most ruthless, manipulative, careless end up winning.
Profit is excess — so it’s not a natural byproduct. No one ever lowers prices, but you can, no one ever splits out excess wealth to workers but you can. It’s not impossible.
I’d ask you does captialism create a better product? We’re here on Lemmy, so its especially pertinent to ask whether reddit was better as a free product for the benefit of everyone, or is it better as a for-profit model with ads, gold, awards, data vending, paid tiers etc?
Same for privatization of railroads, water, power. When is an example of (long term) improvement of private ownership?
Same for Healthcare, why is it better to have more expensive service, less access, more barriers but a better paid middleman?