Publisher: Free Press; 1st Free Press Pbk. Ed edition (January 10, 1996)
this alone should answer your question. it's not an academic press.
the iq tests test the potential for abstract reasoning in traditionally educated, english speaking people. that's what they were developed for. they do a fine job of it. but iq means nothing for most "useful" purposes: it doesn't mean you will do well in school; it doesn't mean you'll cure cancer; it doesn't mean you have any ability to lead or inspire. it means you are good at abstract reasoning. these tend to be very useful things in upper-level academics in any field, though a particular individual's abilities may be less broad. i'm brilliant, but god help me i can't work in an office or anything like that.
think about the smartest people you know. some of them may actually be smart. some of them may just be charismatic. both are valuable, in different arenas.