Inflation (including fractional reserve) = you have too many tickets for your coats

Fiat = there are tickets but zero coats

So Bitcoin purports to fix the inflation problem but not the fiat problem. But if there are any tickets and zero coats, that is too many. The ticket supply has already been inflated.

The point of gold is not to limit inflation, the point of gold is to be the unit of value, and inflation undermines that function which is the problem with inflation. But it's not just an arbitrary and meaningless unit which could be anything - or nothing. Gold emerged as commodity money because of its durability (suitability for saving). But it was worth saving in the first place only because it had value, and it had value ultimately because it is a useful physical material.

All of the wonderful properties of Bitcoin (security, transport, etc) are useful only if the bitcoins already have value for some other reason (eg speculation). So why should Bitcoin have value in the first place?

If you want to wave the problem away & just note that somehow or other the Bitcoin market price has risen above zero: note that so has the fiat market price (in gold, or salt, or oil, etc).