I think you know its broken:

When the words of 1 person can devalue another person's work in a second.

Inflation basically devalues your work. So your work worth less today, than when you did it. This implicitly means:

work != work

So if I worked as a barista 2 years ago, and I did the same, that I do today. Exact same work. My past work worth less then my work today. Is it fair? I did the same.