The capped supply and heavy bias of coin emission toward initial years create a strong incentive for hoarding and pure speculative use.

I would expect much wealth concentration if the emission had been purely linear with a fixed block reward, taking MUCH longer to get down to a small yearly supply inflation (100 years to get to 1%). Such a SLOW emission would focus on the use as a currency rather than "store of value".

It likely would have made Bitcoin's environmental impact much smaller as well, without speculators pushing up the price.