Yes, fiat is a shitcoin, with certainty of loss of value. Every central bank targets inflation, none of them even say they want to preserve let alone increase purchasing power.
The list below shows the failures of wrapped shitcoins, which are even worse. Some people get their money back thanks to the state insurance, but for many even this type of protection does not work.
Yet the same people say Bitcoin is dangerous. Yes, it's volatile, but I don't have to trust a management of a bank I know nothing about, central bankers or insurance schemes. I am my own reserve bank.