I think most people here would agree with your assertion that the injection of dollars will bring about inflation and that the use of this money to buy up worthless assets has done little but enrich state/corporate cronies

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But, I don't think you have said much regarding the labor theory of value here. I think the labor theory of value is quite important, but I think you will find most people here would argue instead for marginal utility theory and further argue that there can be no normative theory of value -- that is, nothing "should" be worth anything -- as long as all exchanges are voluntary everything is "worth" whatever the traders agree to give each other for it and that labor is no different from diamonds or pizza in this regard.

I believe that the concept of "voluntary" is quite abused by Libertarians and especially the  Austrian school in not recognizing the inherent power differentials and coercion that creep into any relationship where one is selling one's labor to another.