Are bitcoin permanently Lost ?

As we all know, Bitcoin has a strictly limited supply, which is central to its value proposition. The future value of Bitcoin and its ability to retain purchasing power are closely tied to this fixed supply.

I have a basic understanding of how Bitcoin works, so I’d like to check if my thinking here is correct: some portion of Bitcoin has already been permanently lost, and more will inevitably be lost over time. For example, coins may become inaccessible if someone passes away without sharing their private keys, or when people forget about small fractions of Bitcoin in old wallets and never recover them.

Would it be fair to say that this ongoing loss makes Bitcoin even scarcer than the capped supply already suggests?