I remember the $10k investment, and I always found it too low. I doubt they raised to $120k because of inflation (though I agree some part of it may be because of that).
They did cite inflation as the reason it was raised, but likely it was too low.
Well, a raise from $10k to $120k being inflation-based sounds a bit odd as an argument, and I remember this was in pre-Covid times where inflation was close to zero.