Should Impact Factor be the standard for judging how sound a journal is?

Never. With the impact factor, quality of paper/innovation can't be judged. 

No. The impact factor indicates relevance in the field, but that does not guarantee that all published articles are of high quality.

No, the impact factor only reflects the number of citations and is not equivalent to content quality; High quality papers may also be published in low impact factor journals, while low-quality papers may also be published in high impact factor journals.

Impact factor should not be used to judge the quality of a journal.  Most high impact journals are beyond the reach of academics in LMIC. So they are compelled to publish in institutinal based or professional organisations journals.

impact factor does give us a idea of how standard the journal is, based on that journal are classified into quartiles, its always great achievement to get into Q1 journals and its quiet tough too for beginners. being said that even Q2 and Q3 journal publishing is not that easy sometimes everything depends on the journal policies and requirements.

Soundness of journal is to be judged case-by-case per article, as citations which are used in calculating impact factor, may also be due to critique towards published papers, and not always to be considered as acknowledging soundness. Impact factor may be used as guide but not a standard.

No. Impact factor should be a guide but not a standard in judging the journal. You can have a very good paper submitted in low impact journal, and an mediocre in high impact impact journal. 
 

The impact factor of a journal is one of the major considerations  about the  scientific  quality , value of  unbiased independent  nature  and it's  direct or potential  impact or magnitude to advance scientific knowledge based on  soundness findings. 

In my opinion,  the impact factor (IF) should be used with caution when assesing the quality of a journal or the quality of an article, as it mostly reflects  the amount of citations the journal has rather than the quality of the article or the quality of the journal. In the case of journals that are open access (predatory journals are included), they obtain better IFs because the readers can download the articles easily and thus, they have more visualizations and more citations. Moreover, nowadays there are more open access journals than a few years ago. In my experience, prestigious journals that have not accepted the "open access only" policy are having reduced IF than others. Furthermore, the scientific comunity is helping the editorials make a lot of money.