All the lost coins will become active
So the protocol is no longer secure or decentralised. This also causes far greater supply over a short period of time, these two things might explain the $100 target. I dont see why a compromised protocol is then a reason for the 1mil price target. Are we then saying the Dollar swap rate is bullish because dollar is more greatly compromised then Bitcoin.
The biggest point BTC has in its favour always, now and forever will be the unique point of decentralised confirmation and security, if it doesnt have that its about as different as paypal is.