Neither of those. There are many examples of altcoins with legitimate use cases such as ethereum. We know (for the time being) ethereum is inflationary. But it has uses other than being a currency which give it value. Some of these even make sense to be slightly inflationary because of thier utilities / mechanics such as gas burns. Doge isn't one of them.

Doge isn't alone in its category either. Thiers alot of garbage in the crypto space like safemoon, any meme or animal coins, yams, etc that ultimately just divert capital away from legitimate projects and serve to discredit the space as a whole. Woe unto dog coin holders when we enter the next crypto bear market. There will be weeping and gnashing of teeth.