Rapid inflation is also hurting everyone who isn’t markedly wealthy.
I’ll agree with your statement as soon as a significant portion of “everyone who isn’t markedly wealthy” stops purchasing exorbitant priced coffee at Starbucks and Value Meals at McDonalds among all the other ridiculous crap we buy simply because it’s available and our debit cards still have money on them.
Until then it’s business as usual.
It hurts the wealthy too. The only people whom it doesn’t hurt are those with negative assets. Debt will be decreased by inflation. Savings will also be decreased by inflation.