There isn't a shortage of SMerit to award, just a shortage of post to receive it. Even if Theymos controls the system, he is still a part of it, and he awards sMerit as he sees fit based on his own evaluation of a post.
OK, I agree that he is a member of the system like we are, but he is a bit more extraordinary.
Sources gives merit to the users , those users send merit to Theymos, then the sMerit generated are hoarded . The total circulation of merit is decreased because those end up in the smerit "pit".
I think theymos is also a merit source together with his alt account so he distributes merit too.
When I'm meriting someone I know that the smerit I generated is in circulation and other users will benefit from it. I sometimes merit Theymos too so I'm hoping those merit to be in a good use later.
So all we have to hope for then are more fresh
quality members
OK, I agree with you with you guys, maybe it's because I did't see theymos as a regular user here, more like an admin and he has the full control over the system + in addition some sources were complain about shortage of source merit so this is came as an idea as I said before.