Yes, the problem with a "hoard" scenario like this is the following :

1. If everyone hoards their bitcoins and nobody use it, then merchants will stop accept it as a payment option.
2. If merchants stop accepting it, then you will not have places to spend it and that would remove it's functionality as a currency. 
3. If everyone hoards their coins, then investors would obviously not have any coins to buy and exchanges would not make any money, so they will close their doors. 

We should all adopt a strategy where you buy coins and then spend about 20% of those coins to stimulate the Bitcoin network of merchants.