There are other complicating factors in the Israel example. About 10% of Israel is ultra-orthodox (charedi) (source) and a large fraction of them are on essentially perpetual welfare with the men staying inside yeshivot all day studying and not generating any economic productivity. Also note that by some intelligence metrics other ethnic groups outscore Ashkenazim (especially Han Chinese). This is however a minor quibble and your essential points seem correct.
There are other complicating factors in the Israel example. About 10% of Israel is ultra-orthodox (charedi) (source) and a large fraction of them are on essentially perpetual welfare with the men staying inside yeshivot all day studying and not generating any economic productivity. Also note that by some intelligence metrics other ethnic groups outscore Ashkenazim (especially Han Chinese). This is however a minor quibble and your essential points seem correct.