My two cents on racial merits would be more along the lines of...

Mithras-
Increase in stat gain/boost from eating raw fsh
Increase in movement speed (maybe 5% per point?)

Galka-
Increase in stat gain/boost from eating Raw meats
Decrease Movement Speed increase Def or hp?

Hume-
Various merits to focus them on one job type (physical/magic/rng/agi based)
Or a boost when useing weapons with complicated mechinisms (IE. guns... crossbows)

Elvaan-
Boost in crafting rates
Boost when useing crafted equipments

Taru-
Doublecast :P (im a hume)
Or when 2 or more tarus are in a party they get some bonuses(like an extra 2% dmg to spells per point)

Anyway the point would be less on stats (which we already have stat merits) and job abilities (enless there gonna and a group 3 merits...never mind how unfair it would be) and should focus more on expanding a Races natural talents or in story abilities.