Price is a function of both supply and demand. I agree overall demand is more important. But people should be aware of supply as well, and have an accurate expectation of how supply will increase.
Also, Steem and Hive are not deflationary. They will tend towards lower inflation over time, but eventually a stable issuance (where a deflationary currency would go to 0 issuance and net negative when issuance is less than lost coins per year).
Around 99,9% of people don't even know how euros are created, so on cryptos inflation is even smaller issue. Since the motive is to hodl, we are talking about deflation, right?
I tend to ask people these questions and the last answer is usually "economics". Cannot tell, what it means in practice.