Are you saying inflation alone necessarily determine what is more valuable or money? Of course. Not if you understand subjective theory of value.

"A single coin has fixed supply. There is a theory that the fixed supply of Bitcoin is the source of its value. As with Bitcoin, there is a fixed supply of the Mona Lisa, only one is possible. The theory implies that this is the source of value for the famed work of art. However there are countless unique works of art with no demand, and therefore no value. Bitcoin cannot increase in value only because of absolute scarcity. To the contrary, it necessarily becomes more scarce as it becomes more highly valued."

https://github.com/libbitcoin/libbitcoin-system/wiki/Scarcity-Fallacy