In your perfect meritocratic system, because of the realities of race, some racial groups will always do better than others.
Under this system people may be better off altogether, but groups will objectively and identifiably be perceived and treated as inferior.
Even if they are inferior as the free market has deigned, if they are inferiorly suited to satisfy and be economically viable and thus not all that valuable, even if that inferiority is impartial and not based on any unfair prejudice, these races will still be markedly inferior.
A people will not accept a system in which they are inferior.
They will never accept libertarianism because they collectively fail at libertarianism, which is why they don't embrace libertarianism.
Give it up.
You will never have a libertarian system in a multiethnic democracy. It's not possible. Even if you achieved that, without seriously restricting the franchise to create a legal racial supremacy (which you won't because of the NAP) they will aggressively dismantle that libertarian system.
The ethnostate is the only answer.