Meritocracy and dominance hierarchy are loosely connected but not the same thing. As usual my thinking is less binary. There is some of what you speak of but the idea that there is no meritocracy doesn't mesh with my life's experience in the corporate world where it's all about profit. If you provide your employer a good ROI you last to retirement, otherwise you get terminated or laid off. Race and gender play no role in that. I watched many white men get replaced by brown women from India. Ratios, it's not all or nothing. "Falsely believe"? That's your opinion of what I seen first hand, including outside the US.