Right, but supply inflation moving from 1.76% per annum to 0.88% per annum is roughly speaking utterly meaningless. People just latched onto this idea because they're using too few data points.

Agreed.

And the idea that miners have a god-given right to make $100 per transaction, $40m per day, and therefore if the mining reward halves, the price of BTC must inevitably double, is obviously preposterous.