I'm sorry but you are plain wrong. The correlation between IQ and academic "ability" - if any, is not empirical nut by definition. That is to say, people who score low in IQ-like tests are not admitted to the academia and thus cannot provide counterevidence or at least the counterevidence they may provide does not weigh as much as the supporting evidence. There is no admission criteria to "practical intelligence" (whatever that is) - so here the counterevidence has a real chance of falsifying the purported effect of IQ test - and it does, as you claim.
The virtual elimination of the counterfactual evidence denies the IQ testing to science even before we examine the way this whole noxious brew is cooked with misuse of factor analysis which stinks of Platonic unobservable ideas behind their imperfect empirical manifestations.
IQ testing is not science in any true sense, but witchcraft cum metaphysics. It stinks even more than religion. At lest the latter has no pretenses to rationality.
Wojtek