Sure; it will take a century to get inflation down to 1%, but that means speculative use is strongly discouraged. As a result, its price would be much lower as would its environmental impact. While use as a peer-to-peer currency, its stated goal, would be largely unaffected.
Anyway, this is all besides the point. Now that governments have figured out they can colour coins these types of projects are doomed. Once you have a poisonable ledger and powerful entities see it in their interests to poison some of the branches of the tree then there is no actual advantage of using it. Not in the long term, I mean.
Personally, I'm pleased. I do not want global, decentralized, electronic currencies.
You'll be called a shit coin. But over a long enough time horizon, someone will be right.
> but that means speculative use is strongly discouraged
Volatility is ironically a "feature". As it stands your system has no incentive for anyone to overcome the barriers of joining. You're proposing a better system from the outside, not the inside.