First, it isn't actually Jews per se who have higher than average IQs, it is only Ashkenazi Jews. Sephardic Jews have an average IQ of about 100. So even within that small ethno-religious group, there is a distinct difference.
Now consider "blacks." Africans are extremely genetically diverse, more diverse than any other population. That's not unsurprising, since high genetic diversity is usually a mark of the area of origin of a species.
So when someone claims that Africans are less intelligent than the human average, they are linking an extremely diverse group under one umbrella, simply because of the color of their skin, and it is obviously absurd to claim that skin color and intelligence are linked. WIthin the overall African-descended population, there are no doubt some ethnic groups that show higher intelligence than others, just as within the European-descended population, there are some ethnic groups that show higher intelligence.
But even within those groups, there is a wide distribution of intelligence. So we see both Europeans and Africans who equate skin color with moral character, and we see both Africans and Europeans who have increased the sum of human knowledge.
Watson made the racist argument that Africans are incapable of governing themselves. For that, he should have been run out of town. If Saletan made the argument that since Jews are smarter than the rest of us, they should be in charge of the world, then he'd be making an equivalent argument. So far as I can tell, he didn't say that.