What discourages it as an investment is the fact that inflation bugs can go undetected for a long time.

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But if somebody found an inflation bug, they would be printing themselves more Monero. And so it would be evident in the price.

Isn't the price evidence of that?

I highly doubt somebody with an inflation bug would print just enough Monero for themselves to keep the price completely steady without overdoing it and causing the price to fall sharply.