Well, look what happens every year: knighthoods for billionaire businessmen and senior civil servants, honours for the already wealthy sportspersons and entertainers; but note in the latter case it is always for their charity work. Of course there's the usual lollypop lady and subpostmaster, just to show how egalitarian we are. Look at the sirs this year: the chairman of BA and of the CBI. Remember that that latter organisation said that unions were no longer relevant and opposed the minimum wage. Would you like to be even in the same room as such people?
The Order of Merit would seem to be a good ideas as it's limited to 24 of the most outstanding people; Roger Penrose, Lucien Freud and David Attenborough are all OM's. However, even this honour is tainted when you consider that so are the Duke of Edinborough and Prince Charles. For contribution to rascism,adultery and stupidity no doubt.