Nope! Most cryptocurrencies are even more deflationary and are designed to benefit the protocol designers and early investors. That doesn't mean we should stop trying! I haven't seen any good arguments for why a cryptocurrency cannot possibly work. Once the dot-com phase of crypto ends, there may be more serious efforts to make a currency that's actually useful. I'd argue that people in Greece could use one right now if there was a sane way to bootstrap the process.