But everything else would cost fewer Bitcoin too. Not just he 1h of your labor. But 1h of everyone else labor, every product, etc., and every unit of every fiat.

Bitcoin price of some will decrease faster than of others, but all would be decreasing.

Extrapolating far far away, I believe a modest family live would be far more accessible than it is now. While accumulating riches at scale for the already wealthy would be far more difficult than it is now.