Currently, deflationary tokens don't move investors again or rightly put, it is no longer a feature which investors would see and invest in a token, although there might be few exemptions. From a good point of view, deflationary feature makes a token scares and once a token is getting scares it is meant to have more value, but over time most project team banks on this, create tokens with no use case, announce token burn, pump the price and then dump it.
Also, some projects have developed a way wherein on every transaction, a certain amount of token is burnt, but as usual, it only works if and only few the project in question have something valuable to offer.
Therefore in my opinion, don't invest in a token because it is a deflationary token, you end up losing at the end, but invest in a token because of the use case and because you have carried out your due diligence.