IQ in itself is not fake as it is a measurement of intelligence from one individual compared to a group (usually). Or, you can measure two groups against an established IQ. You could call the measurements that we compare our children to the rest of children by the circumference of their crown, the length of their bodies, and their weight to be their physical quota, or PQ. I don't think they call it that, but it's the same practice; that is, measurement against a pool of samples.
It is true that eugenicists used IQ tests along racial lines. It is worth questioning whether or not they took considerations of available education and economic disparities into consideration of those tests, but being that eugenics were popular in the 1920s, I doubt it.