just imagine if there is no merit system, surely everyone will invade this forum to spam, and of course signature campaign will be crowded with cheaters with multiple accounts,
In this case, in the long run, there would be no signature campaigns anymore. No company would want to pay money for a campaign in a forum where sh*tposting dominates. Or they would pay almost nothing, just like for most "click-working" jobs.
It could be even worse: Google could blacklist the forum for "bad quality content" and lower its search engine rank. That would drive out even more users, lower the rates companies would like to pay for signature campaigns, etc. etc..
The alternative is clear: Signature campaigns could be banned entirely.
So everyone earning money with signatures should
love the Merit system. It is, at least, an attempt to preserve the status of Bitcointalk as a leading web site in the cryptocurrency community, encouraging users to write quality content. That status has been earned in almost ten years, and it is constantly in danger - Facebook and Twitter would love to dominate the crypto community even more
. But only if this status is preserved, companies will continue to pay money to people in signature campaigns.
Now to the flaws: The only flaw is, maybe, the low liquidity of sMerits. Maybe we need more merit sources. Or a +1 button.