I haven't decided how much inequality is okay in a good society. The idea of trying to make sure everyone has exactly the same amount seems impossible to me. Marx endorsed Louis Blanc's "From each according to ability, to each according to need" which only implies that everyone's needs are met. When we have that, I'll think more about this. For now, I'm content to focus on Basic Income, which seems like the fastest way to make sure everyone's needs are met..
I do think it's impossible to have a meritocracy in a system with inherited wealth.