When Ethereum finally becomes the biggest blockchain by market cap 0xBTC will become the BTC emulation that is used as a deflationary store of value on that blockchain.
Bitcoin will die and cease to be a blockchain of any importance and people will switch to investing in 0xBTC which is compatible with the Ethereum network.
Your proposal sound very exciting, but too many people are heavily invested in bitcoin which will make it difficult for it to lose dominance.