You know what people miss about the economy of Steem? Is that it's tokens aren't supposed to increase price over time

Then it is doomed. No one will invest in it, and the price will crash from however many people want to cash out (even if it is a relatively small number).

You absolutely need buyers to maintain a price in the presence of sellers, and for there to be buyers the investment has to be at least somewhat promising. If and when people believe that the price isn't supposed to increase, the entire project will be a complete and rapid failure. Thankfully that is not entirely the case at this point, but unfortunately there are many doubts.

In reality, the amount of inflation matters. The market may well be able to absorb say 1% inflation but not 8%. These numbers are of course hypothetical, but it is clear that less inflation is easier for a market to absorb for a given level of demand.