They can be very good engineers, but they are pretty bad at economics.
Was not Peter Todd the one who argued that bitcoin should have an inflation system integrated?
You are out of your league in this topic, as it's obvious the security model for bitcoin gets worse the more transaction fees make up the bulk of block reward in comparison to fixed emission. There are also different adversarial mining problems in each circumstance. There's far more variables in bitcoin than people believe of things that can go haywire. Another issue is that adversarial mining is like a free win to shut down your opponents assuming you have more hashpower than they do.
This is actually quite a big piece of evidence that there's a lot of Chinese miners and others who are colluding in a pump and dump fashion because otherwise you would see far more things like adversarial mining going on. You would likely only see none if...everyone was colluding. Some people do believe the Chinese colluded in order to shut down KNC and try and corner the market, though.