I have been writing about this issue for more than a year since Steem days. But those whales who are in a position to grab most of the coins from inflation and also control the witnesses - do not want to reduce the inflation. It is same as FED and interested parties do not want to reduce $ printing.

Unless inflation is reduced to 2-3% - we will not see sustained price appreciation. Below is link to my posts

@prameshtyagi/hive-annualized-inflation-continues-to-hover-around-20
@prameshtyagi/hive-annualized-inflation
https://steemit.com/actnearn/@prameshtyagi/steem-inflation-profile-explains-its-price-performance
https://steemit.com/prameshtyagi/@prameshtyagi/inflationatoolforefficientcreationandeffectiveredistributionofwealth-c4kzisy5xo