If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.
No, that is not how the world works such as how people like Bitcoin core erroneously state that only "nodes" or "users" matter and not miners. Miners determine the fate of Bitcoin because without miners you have no chain security. Yes, you can choose to boycott the majority fork...and then be attacked by them. Then you get to open the can of worms of being forced to change algo. Regardless, since Bitcoin has no Nash equilibrium, no Schelling point, and mining and transaction validators are all designed to centralize, it's nothing more than a corrupt political power vacuum like you would see in a senate.
Miners need transactions to happen in order to stay solvent, and nobody would use inflationcoin. Also, literally all whales (except miners that are part of the attack, assuming they don't back-peddle) would dump their share on the attackers chain, collapsing the price, thus collapsing the hashrate, and forcing miners to come back to the original chain or go out of business.
Nobody said anything about inflation. You erroneously claimed "21 million coins" constitutes a Schelling point for Bitcoin. You're making shit up on the fly. You can have infinite different forks all with a 21 million coin count. There is no Schelling point in shitcoins. Stop constantly lying. It's also 100% guaranteed for Bitcoin to be co-opted by the state since transaction validators are designed to centralize, not that the state wasn't involved in it's creation in the first place.