An estimated 6 million in lost bitcoins, if this continues how will it affect the market?

Something’s been nagging at my curiosity and I know some of you in this sub will have a far better understanding on the topic than I do. We all know that Bitcoin has a limited supply, and we’ve all heard the stories of people losing access to their coins due to lost keys or other reasons (including people in this sub).

‘A manager at Cane Island Alternative Advisors, an investment advisory firm, revealed that the number of lost Bitcoins has crossed 6 million. Timothy Peterson shared this over the weekend where he explained that of the 19.3 million BTC that have been mined so far, there are only 13.3 million currently available. Going by Peterson’s numbers, over 31% of the current Bitcoin circulation supply is lost forever.’

What actually happens to these lost Bitcoins? If more and more Bitcoins become lost over time, does that mean the remaining Bitcoins become more valuable? How does scarcity play into this? I can’t get my head around this, jut because those bitcoins are lost, they’re still a part of the max supply, the value of a single Bitcoin is still split between all bitcoins in the supply. Does that mean that the value of bitcoin is actually 33% higher (considering roughly 33% have been lost) because they aren’t a part of the circulating supply and likely never will be?

Now, let’s think bigger. What if in 20 or 30 or 40 years from now a huge portion, say 95% of all Bitcoin was somehow lost due to human error. How would that change the market, the price, and the whole crypto landscape?

I’m not sure if these questions have straightforward answers, maybe they do, like I said I’m not very knowledgeable on this but I’d very curious about hearing your takes.