This is actually a common, but mistaken, view of how STEEM works. Yes, it does inflate about 100% a year, but it all goes in to STEEM Power. And that STEEM Power can only be redeemed over a 2 year period and is not always being redeemed. So with 100% increase per year, and withdraws taking 2 years, you never actually get your original amount out, you are taking about 50% of the interest when you Power Down.

So any funds used to Power Up are locked in basically for eternity, and you have the option to be paid 50% of the interest for 2 years.

And since there is an incentive to invest in STEEM Power, to give other people higher rewards and get higher curation rewards yourself. That means that STEEM and BTC and other Currencies will always be moving in to STEEM Power.

And once everyone realizes this, that will be a big change in the way people talk about STEEM.