Yes, practice effects are a big thing. That is one of the reasons that test preparation for the SAT (and similar) can be useful.
The test retest reliability means that your scores across multiple time points are all highly correlated, but not necessarily the same.
Because she is having trouble in school, my daughter took an IQ test in a clinical setting for exactly those reasons, Anybody talking to her would know she does not have an intellectual disability, but a standardized test can put a number on it, which communicates to anybody looking at her file that this child is having difficulties for reasons other than intelligence.
This is my opinion, and probably better suited for the “what do you believe without evidence thread,” but a lot of people hate the idea of IQ, because they hate individual differences, the idea that individual differences can be quantified, and that some of these differences can be important.
People are different. Some of those differences can be easily measured, such as height, weight, preferred way to pronounce GIF, and even IQ. Some of these measured differences can have tremendous consequences for the people who end up on the wrong end of the distribution.
That really upsets some people, who equate what I just said with racism and eugenics. To be completely fair, eugenicists love IQ and other measurable individual differences because it can give them an air of scientific legitimacy to support their racist views.
So, people will poke at IQ, g, and other things, pointing out legitimate flaws, exceptions, and just making stuff up in attempts to discredit it. We’ve all seen similar behavior around things like vaccinations, climate change, etc., and they’re often just as insightful as people asking “if we have global warming, why is it so cold outside?”