Merino isn't nearly as durable as a quality synthetic. It will wear quicker, and develop holes over relatively short time. No drier, no fabric softener(which coats the fibers that you want to be able to pull moisture off your skin)-I follow those same rules with synthetics, too.
I love my merino stuff enough that I have four long bottoms, a couple of blended boxer briefs, a couple each of long and short sleeve t-shirts, not to mention dozens of pairs of merino socks, a pair of glove liners, and even a lightweight Smartwool beanie that I wear pulled down over my eyes at home since I sleep during the daytime. From what I've seen it tends to get overhyped online, though.
Merino pros(vs synthetic of similar weight):
-More comfortable next to skin.
-More comfortable when wet.
-Warmer when wet.
-Retains much less odor.
Synthetic pros(vs merino of similar weight):
-More durable.
-Less expensive.
-Doesn't absorb moisture/dries much faster.
-More breathable.
btw, I'm using the term "synthetic" generically, but referring to quality brand names and materials. There are synthetics that are cheap junk. There's some merino that is junk, too, IMO, it just never seems to be cheap!