A Feynman raised by an 80 IQ mother... wouldn't be Feynman
I concede that, under some really extreme environmental conditions, any genetic advantages would be canceled out. So, you might actually be right if the IQ 80 mother is really bad. Money should be provided to poor families by the state, but only as long as they raise their child well - as determined by periodic medical checks. Any person, no matter the IQ, can do one thing reasonably well, and that is to raise children to maturity.
But I believe you are taking the importance of parenthood way too far, and disregarding the hereditarian point of view too easi...
Related Posts: A cynical explanation for why rationalists worry about FAI, A belief propagation graph
Lately I've been pondering the fact that while there are many critics of SIAI and its plan to form a team to build FAI, few of us seem to agree on what SIAI or we should do instead. Here are some of the alternative suggestions offered so far: