Most selective but non-super-selective colleges admit using mostly meritocratic criteria, for their definition of “merit” (which may not necessarily be what the applicants think). Of course, there are open admission community colleges which are not meritocratic in admissions, but not exclusive either.
Super-selective colleges have the luxury of building whatever class they like from an overflow of applicants who would be at the top of the heap at most other colleges. Being top end on academic merit is merely a qualifier to be chosen, but the chances of being chosen are still quite low.