My point is, do you think other crypto currencies will adopt such policies to keep up, or rival Bitcoin?
It is not something new anymore, there are many coins and tokens that have limited supply like bitcoin, but most of them are bump and dump. Also some like ethereum are created continuously without limited supply but part of it are also burned.And that's why this statement is not necessarily true:
Unlike flat currency, the value of Bitcoin will keep increasing because more can not be printed into usage, furthermore scarcity and increased demand can lead to higher price level.
If, for example, something happened that was catastrophic to bitcoin--some black swan event that no one probably saw coming--its scarcity would mean diddly-squat. I've heard people go on and on about the fixed supply guaranteeing bitcoin's price will just keep going up, but you're talking about supply and demand; note that there are two factors there, not just one. Here's an example, Bitcore (BTX). The supply is also capped at 21 million coins, yet just look at its price chart spanning all the way back to 2017:
Doesn't look anything like bitcoin, does it? And it's obvious why: there's no demand for it, which goes the same for all the other shitcoins with fixed supply. What exactly is there to discuss here?