I recently shifted my opinion on IQ tests a bit after watching a recent Veritasium video. He goes into the background/history/controversy of the test as well as some of the concrete impacts of the test and places where it's used. For example did you know the US military has an IQ minimum cutoff? And furthermore they have a second 'soft' cutoff, where only 20% of the military can have an IQ under a certain value. In the past they tried removing this second restriction, but had to reinstate it after seeing increases in casualties/indicators of reduced efficiency! So are IQ tests everything? No. But do they have no merit? Also no. It's somewhere in between.
Would highly recommend a watch https://youtube.com/watch?v=FkKPsLxgpuY