But does it actually reduce the value? You could run the bitcoin network of 1 bitcoin, you would just have to keep making it smaller denominations. Likewise if you just 'lose' coins surely you get to a point where you just make it a smaller demoniation and the end state hasn't changed?
I don't foresee adding the lost coins back in, in 100? years time making a significant difference? if it was put to a vote? everyone agreed. Would it really affect the price? especially if you limited the amount of coins that could be bought back in per block?