1. It should indeed be 'epistemocracy'. Epistocracy shows a very crass comprehension of ancient Greek, if at all.

2. Isn't epistemocracy, broadly speaking, synonymous with Platonism? That's the philosophy that advocates in broad terms that a government and a society should be ruled by someone who possesses perfect knowledge (The Philosopher King), in a society arranged according to each own's epistemic compatibility in relation to the Truth. No?