I think that is one of the most terrible ways I've ever heard of to run a society. Leaving aside the question of intelligence types, test accuracy, corruption, and all that, some of the most "test-intelligent" people I know are too dumb to pour piss out of a boot.
The thought of one of them controlling people's lives on any kind of scale is terrifying.
The thought of one of them controlling people's lives on any kind of scale is terrifying.