People (not neccesarily the 1% Bitcoiners who are already here) will use their store of value in order to survive, which in most cases means pulling money and value from BTC and spending in fiat.

Monero is perceived (and used) differently today. No one is going to pull more money than today and it's very likely the money newly invested will increase as privacy is eroded on all fronts and CBDC financial censorship is just around the corner.