there will be almost no smerit left.
There are merit sources on the forum, which are people chosen by theymos. Those people get a continuous supply of sMerit, where any sMerits they spend from their source comes back in 30 days.
I know that there is other way to earn smerit (list interesting posts, etc...), but come on. From my point of view : if I use a forum, it is become the subject interest me, and I want to grow and learn about it. I think you will never see me doing some compilation of interesting post compilation just because I want to earn smerit and I think there is a lot of people in the same state of mind.
I think there is a lot of post worth reading that are not "rewarded" enough. That's too bad because the ranks of the users who made it does not give them the credit they deserve. You will say "well, they'll earn credit by earning merit". Yes, but I stated earlier that smerit is a finite "ressource". In 2-6 monthes there will remain only a few people who earned the hero member or legendary member rank before the update that will be in condition to give smerit, and also some people spaming meta to earn it.
Can't say anything about spamming Meta for merit in the future, but you don't have to touch Meta to earn merit right now. I'm currently running the ChipMixer signature campaign, and I'm keeping track of participants (58 people right now) and their merit count. These are people with good posts, and they have earned a decent number amount of merit considering how new the system is, all of them have not touched a merit review thread, and most do not or rarely post in Meta.
Obviously, the campaign does not represent the forum's "population", but it is a decent sample of quality posters.
Plus, there is a lot of discussion and child boards. Some of them are frequented by a lot of people, and others are not. Some of them are frequented by people who have a lot of smerit to give, and others are not. Some people were here since a long time and posted uninteresting posts & ranked up, some people came later and struggle or will struggle to rank up, even if they deserve to.
The end goal I assume for theymos is to have decent representation of merit sources in all sections. Hopefully this becomes a non issue in the future, and I don't think it's too much of an issue right now. You can't expect to gain merit in the Games and Rounds section (mostly giveaways) for example. There are also merit sources in local sections.
As I totally understand the will of highlithing profiles and posts, I think this system is flawed and is somehow unfair to any good-willed newcomers.
Hard to tell without more time.
You are almost correct but you seem to have left out the current and future merit sources.
It will be up to them, including source creators, to balance the amount of merit inflation/deflation and to distribute sources more evenly across sub forums..
My point is that the current merit sources will never compensate the inital smerit quantity induced by ranks.
There HAS to be future merit sources. Otherwise I can see a lot of consequences, such as rank up rarification, involving a huge boom in really high ranked signature campaigns payouts, merit black market, more hacking, and so on...
More merit sources will be added as time passes. We started with I believe 50 merit sources, now we're at 57. I don't think any merit sources would be involved with merit black market stuff, as it's pretty obvious. The people doing the black market stuff will run out after time.