Given that we've seen other cryptocurrencies & blockchains that have inflationary models still "succeed" in the sense of having transactional value,
That is not what "success" means. Success is defined with having real adoption in the real world not just having a price on an exchange. For example there are currently altcoins that don't even have a blockchain anymore but they are still being traded on some exchanges like Yobit and have a price. By all definitions these altcoins are dead but they have a "value" still.Quote
How much did the deflationary model contribute to Bitcoin's shift to store-of-value?
Was the whole premise of starting Bitcoin under a deflationary model based on an economic fallacy in the hopes it would encourage valuation?
The main point was to have a currency that unlike fiat currencies is not printed until the end of time. In other words an alternative currency that is different.Was the whole premise of starting Bitcoin under a deflationary model based on an economic fallacy in the hopes it would encourage valuation?
while most NFTs with their closed supply models seem to immediately follow the product adoption curve and wither away.
Technically since you can always create more NFTs that are exact copy of each other, their supply is unlimited regardless of what one of them does.What I see today is that Bitcoin has made a full transition to store-of-value and speculative investing
You should know that just because you see a lot of people talk about bitcoin as an investment, that doesn't mean bitcoin has made a "full transition". The fact is that people talk about price and profit more than they talk about bitcoin as a currency but the adoption as a medium of exchange grows side by side with the adoption as an investment.For example if you check the number of "payments" using bitcoin in shops accepting bitcoin payments, the bitcoin payment processors, etc. you can see this growth clearly.