People talk about nepotism a lot and I think that's mostly brainworms from people convinced that meritocracy is real. For most of history it's been people passing down property and capitol to their kids or close allies

I'm confused.

Why would people convinced of meritocracy talk about nepotism which is defined as "Favoritism shown or patronage granted to relatives, as in business. "?

Meritocracy is the idea that people succeed on their own merits, while nepotism is a direct refutation of meritocracy, because it reveals the underlying networks of familial favoritism and patronage of the ruling class.

For most of history it's been people passing down property and capitol to their kids or close allies

Isn't this a form of nepotism? Nepotism is just the cherry on top of inheritance. If you're a black sheep of the bourgeois family, maybe you don't get daddy's fortune but instead you get one of his vacation homes and a do-nothing job at his firm.