Bitcoin was never supposed to be an inflation hedge in the first place. That was an idea built by influencers and speculators in the last years. What Bitcoin was supposed to be and is now becoming is a P2p uncontrollable payment network across the globe.
That's not true. Deflation is built into the protocol and the limited supply is where this idea of crypto being an inflation hedge came from. Whether or not an inflation hedge was the inherent goal of Bitcoin isn't really the point. The inherent goal of BTC was a decentralized currency system and with it came the luxury of not having to worry about your purchasing power being siphoned off by 2% minimum a year.