Step 1. Instead of participating in the best money human beings have ever created (bitcoin), create your own coin, give you and your buddies a huge premine Step 2. Switch from POW to POS, ensuring control over the protocol forever Step 3. Profit from the money printing

Two complete different things with different effects. While the merge will give power to the biggest holders the halving will give power to everyone. Nevertheless, there are studies stating that the next halving won't have a big impact on prices as before. The effect is being reduce on each halving.