Current amount of FCT (8.7 million) x value of FCT (1.9USD) / EC price (0.001USD) = 16.500.000.000. So this is the amount of entries that can theoretically be made with the current price of FCT, while Factom is now at 5.7 million entries. Seems like a big difference, but we all know once Factom starts to acquire big companies with big data sets to store on Factom's blockchain, it can go pretty fast. 16.5 billion is then suddenly not so much anymore. Especially if you keep in mind that a large part of the FCT will never be available for convertion into EC's, as they are used for trading/speculation and long term holdings. So in reality there are way less FCT available to really burn into EC's than the number of 8.7 million. This will drive the price.
Plus to me the inflation is not something that crazy, many fear that 73k FCT per month is crazy, but that basically means (if the company survives without burning any FCT) that it will double its supply in 10 years. So 16-20m FCT is not a huge supply either and that's the worst case scenario. That would never happen because the company will actually go out of business.
In any case and we any real usage, inflation will be very low or even deflationary. So if Factom gets any kind of traction that means the current price is a steal like many of us have said in the past.