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You are absolutely right that Bitcoin total supply is key but it is not only thing that sets its price. If its supply were suddenly much bigger its value would drop significantly from today levels which are based on its fixed 21 million coin limit.Predicting Bitcoin future price just by looking at its supply is wrong because other major factors like how much people want it. Its usefulness and how many people use network and its security and also government rules new technology, wider economic conditions, and even scheduled halving events all play big role in shaping its constantly changing value.
If only supply matters so their are many coins and tokens which have less supply as compare to Bitcoin supply but they are still low in price.
In addition to what you just said, the whole thing here follows the law of the economy, when there's an increasing supply, then we should expect a crash down on the market price, because the value also decreases over time for not being limited to a certain supply, this is why the financial system in fiat currency failed and will always be affected by inflation, because all these discrepancies were not out into consideration, but Bitcoin network is a game changer for all these challenges a d ready to fix them all by having a limited supply, so that it's value will always increase as the demand increases.
Fiat becomes more and more bloated as time goes on, and BTC becomes more and more valued because value from fiat in it doesn't disappear or inflate in it - it is kept properly there
