If you get any sniff of non-meritocracy - run!
Meritocracy is a lie, a device to help rationalize the advancement of in-groups over other less privileged groups. An analogy: as a parent you should probably not reward purely on naked results; you should stimulate and reward effort instead. The first option just reinforces existing traits; the second empowers actual self-improvement. Not saying this is always easy or clear-cut. I understand the wish for getting rew…
Which gets to an interesting point: If an organization values the effort you put into failure, it's a company you very much want to work for!