[jswinghammer]

The basic criticism of the labor theory is that it does not explain all things humans value. Adam Smith discussed this when noticing that water however useful it is for keeping humans alive, it's priced in accordance with its' use.

There isn't necessarily any connection between labor and the things people value. For example, the work that goes into designer purses is often the same as the cheap purses at Walmart or whatever but the former could sell for multiples of the cost of the latter.

In a meritocracy, a contributor is paid in relation to doing the work that their team values most. It could be the case that what they do has no direct connection to their labor performed but rather could involve doing very little work that no one else wants to do (or can do). The business values that labor very highly even if it's in very small chunks.