I think cognitive ability is a real thing with a genuine genetic component; twin studies make that pretty hard to deny. But the SAT measures a narrow slice of ability under conditions that favor prep access, and speaking from experience, scoring well on standardized tests without having to work for it hurt me long term. I coasted on test-taking ability and didn't develop real discipline until adulthood.
Without standardized tests, my transcript probably doesn't get me into a top school, I likely don't end up in tech, and honestly maybe I would've been forced to develop a work ethic earlier, which might have been better for me.