It's worse, like you said, the in-game currency isn't even real, unlike a hit the dealer has to hand out for free...
You can buy a car with bitcoin, but you cannot buy a car with fortnite bucks, that's generally the metric I use to tell how real a currency is and how usable it is.
And they're not giving everybody billions. They're forgoing some fraction of $.07B that represents the revenue they would have otherwise captured. My guess is the fraction of people who spend less on these games because they got a little free in-game currency is near-zero and they might actually see a bump in revenue because they can now send out a marketing blast telling inactive users they have a reason to come back.
In other words, it's not really comparable to any cryptocurrency. Heck, even Steam's stickers/pictures you can unlock by playing games are more of a currency as you can sell (and buy) them for real money.
This is like paying a settlement to employees in a company script instead of legal tender.
I wonder about that. The motive in the in-game economy is to have, and spend, more than other players, right? Handing out in-game money to all participants might disrupt things in that everyone can now buy the fancy in-game items, but the competitive/relative component presumably remains. If you want even more in-game items than other players, the dynamic is still there: you still need to pay up.
You could even mitigate the former by compensating players by providing them more currency in proportion to the pre-devaluation purchasing power of their virtual wallet.
Item prices are fixed by the developer, aren't they? edit I suppose that just kicks the stone down the road. There would still be devaluation in the sense that scarce and expensive items become commonplace.
However it is true that it only costs Epic the lost revenue from selling those v-bucks. If a freely-tradable currency was emitted to cover debt, you'd have the penalty of devaluation, but that is not the case here. Of course that makes no difference for the players, that's only about punishment.
I promise that when I joined a class action lawsuit over Nissan screwing me over, my goal wasn't to buy more Nissans. I would hazard a guess that many players who felt cheated enough by Epic to join a lawsuit against them likely feel similar.
It is real in the sense that you can chose where you spend it. While this is like coupons. It may have value but that is very limited and therefore does not qualify as currency.
But, this isn't even a punishment. In game currency isn't real. It doesn't cost the company anything. So, this is 'be found guilty and be forced to go back to your junkies and give them their next hit of crack for free.'
I can imagine the ad banners: "Thousands of players will win new loot, will you be one? Play to find out".