No,bitcoin is so valuable because it has the best and most secure blockchain protocol.I'm not a programming expert,but this is the main reason.The second reason is that bitcoin is the most well known cryptocurrency(most because it's the first one),so I can partially agree with your theory,but 'being the first' doesn't always mean that bitcoin is the best.
The biggest number of BTC that will be issued ever is 21 million (the last coin will be issued back in the year 2139).
Therefore, Bitcoin will be never affected by inflation. Another reason to invest in BTC is its real decentralization and anonymity. Finally, this is the cryptocurrency, which is known by all, even those, who are not yet going to get crypto.
BTC will stay the market leader, and it is in great demand.