Yes. Trade is more important than inflation, but inflation is useful early on.
Inflation is only desirable for adoption, if people adopt early they get rewarded by later users. This is the ‘ponzi’ argument thrown at bitcoin, but the bit they omit from the ponzi scheme argument is that it’s not a ponzi if there are a huge number of early and faithful adopters - a ponzi is usually one org or person. And a ponzi will usually exit at some point, not go on for perpetuity.
Inflation is not useful if you are trying to transact in it. Stability of value is the most desirable characteristic when trading in traded goods. Unfortunately, (or fortunately if you want more dollars) the measure of value into dollars will always be inflationary whilst dollars are deflationary because of increased costs and lack of faith in nation states ability to govern international markets (transaction fees, monetary exchange fees, quantitative easing, barriers to entry, etc…)
The dollar value of a coin is only quantifiable and useful in a world where the dollar is the main currency. In the scenario described, the dollar would collapse against the crypto markets, there will be no upper dollar value limit on a unit of currency that is maybe one of a number of units of currency accepted globally.
You would buy your lambo in rai, not in dollars, people would know what the rai value of a lambo was - in the same way you can estimate the BTC value of one now.
What would be interesting to measure would be the actual flow of VALUE that moves around, crypto can do that.
So value is important and if Raiblocks underpins the VALUE of the market, people will be rewarded for using it through zero fees.
I mean - just because Raiblocks is feeless, doesn’t mean you CAN’T charge a fee for your service - you don’t get my work for free, but the payments - sure. If your service fee relies on Raiblocks then you are incentivised to maintain it and the hope is that enough people see that as a valuable exercise.
I can think of a number of institutions that work that way.