Thought about this a lot early on in my bitcoin journey. Early adoption would have been slower. Price moves would be more muted. Otherwise, I think this system would have worked out just fine...if it survived the risky early years.

The relative growth of the monetary base still trends to 0, it just never actually gets there. This is a much closer analog to the gold supply schedule. Monero and Grin both went with this option.

IMO the hard cap was the right choice to give bitcoin the best chance of survival during the riskiest period of it's existence. Satoshi was always thinking long term. 🐐