With the corpse of meritocracy too rotted to deny at this point the elite simply seem to have run out of lies for placating the people.
Or, more likely the people are so sickeningly impotent, that’s there’s no need for the lies anymore. The new aristocracy will prevail over liberalism and everything the west lied of being part of the their values for years.
“If we are to have another contest in the near future of our national existence, I predict that the dividing line will not be Mason and Dixon's but between patriotism and intelligence on the one side, and superstition, ambition and ignorance on the other.” ― Ulysses S. Grant
However, I think we are entering an age of geopolitical chaos. And that will be a darwinian struggle of functioning governance systems.
It's weird that homo sapiens sapiens has been around for approximately 300,000 years and it's never happened once. Not even once.
I suppose I should have said that the correlation between effort and reward has never been 1.0 and has often been a lot lower than we like to believe.