Part of what convinced me that the idea was doomed from the start when I presented it the first time was the observation that people actually DO care about the "There Will Never Be More Than 21 Million Bitcoins" part as a core attraction.  Inflatacoin lacks that appealing attribute, even if the truth of the matter is "You Will Be Long Dead Before There Is Ever More Than 21 Million Inflatacoins".

I would venture to say that's so important, that without it, Bitcoin is just another kind of dollar that isn't even a dollar.  It may as well just be digital Monopoly dollars.