Does elo rise with player count?

Weird question but I’m just trying to understand elo better

It’s points you gain or lose, but it’s point that get given for free on a new account, so can elo inflate much like currency does when banks print money?

For example, let’s say tomorrow a million bot accounts are made on chess.com all starting with 1500 elo and they all lose their games down to 100 elo.

Thats 1.4 billion elo points added into the system, would that mean all players are not higher rated but there’s no change in skill level due to point inflation?