Ladies and gentlemen, 1-2 years from now and we hardly have inflation in Monero. In those days if the demand of Monero starts to increase the price goes literally to sky-high. Given the activity of the community and a great unison in making the difference I do not see too many reasons why this could fail (pessimists will see of course, and I am kinda expecting now some pessimists to reply to this - sure there are ways this could fail obviously).
Yes, there are obvious failure cases, and likely some not so obvious ones. OTOH, as you point out, the positive side constantly strengthens as inflation slows, development and community progress, and the global economic ecosystem drives capital to find alternatives for preservation, if not growth. The greater crypto currency system is so tiny, that only a drop from the global economic bucket will raise all boats. Maybe swamp some of them, too.
If When it comes, it could be quite violent, as shown by bitcoin in the past. Look at ETH recently on greed and speculation alone. Add some fear, and the results could be eye popping, to say the least. Place your bets, gentlemen.