But this equilibrium that you cite in your example isn't what is happening. The whale digger is obfuscating the inflationary effect by introducing non-recurring inflation on a much larger scale.
There is no "inflation" being introduced by the digger. All of those CLAMs already exist on the blockchain, and the fixed (other than staking rewards) supply number is listed on the OP. It hasn't changed.
The only thing that happened here is that investors had an incorrect view of how many of the undug CLAMs would be dug, and/or when they would be dug. That view is being reevaluated and with that reevaluation the price is adjusting accordingly.
That and perhaps all this discussion about wiping out peoples CLAMs has spooked the market and increased the likelihood that the community will fall apart and the coin will fail altogether. I don't know to what extent that is a driving the price action, but it is certainly consistent with it.
If the economy (utility) of CLAM doesn't grow as fast as staking inflation
If the economy of CLAM doesn't grow a lot the whole thing is stupid. Most of the active supply is in the JD bankroll. A (supposedly) decentralized cryptocurrency used to largely support a single site, being secured using proof-of-stake where nearly all of the stake is under the control of one individual is pointless nonsense.
The only good reason to support this project is in the hope that its economy does grow to where this currently-pointless nonsense is in the past.