What is IQ?
IQ is roughly a measure of the ability to generate patterns (well, quickly, etc) that match the observed data.
What isn't IQ?
Self-control/patience, ethics, conscientiousness, openness to new experience, self-efficacy/confidence, open-mindedness, good information-gathering skill, etc.
What is the primary function of IQ?To persuade other people that one's preferred model is correct.
What does IQ not help with?
Finding reasons to believe other than what one does. Falling prey to typical human cognitive errors.
How often are the patterns that high-IQ finds actually present in the world?
Unclear ... <50%. The mind is a fabulous pattern-generator
For example: 1, 2, 4 ....what's next? Finite data points give infinitely many generating rules.
Corollary: almost all predictive hypotheses are wrong.
How does one determine how the world really is?
Experiment. The deductive/inductive capabilities of IQ are strictly limited to hypothesis generation.
The value of IQ is in hypothesis generation, and persuasion, and is relatively unconnected to predictive success.