If you assume a 70% chance to hit, inflict has similar average damage (slightly higher, but no range) to magic missile. However, that average masks the fact that inflict is much swingier. Some of the time, it won't deal any damage at all, but it can easily reach into the 20s, far beyond magic missile's maximum of 15. That makes it pretty scary from a low-level PC's point of view.

As a PC, I usually avoid 1st-level single-target damage spells once we get past 5th level. At that point, cantrips have good enough damage output that I'd rather save the spell slot for something a cantrip can't do. "Panic button" spells like shield, feather fall, or absorb elements; AoE spells like thunderwave or burning hands; social spells like charm person or disguise self; all those seem like better uses of my 1st-level slots.

In a low-level adventure, however, those 1st-level spells pack a wallop. They're also fairly potent in the DM's hands, since monsters are usually less concerned about conserving spell slots. In the last campaign I ran, every PC but one had an AC over 20. Low-level melee monsters could hardly touch them. But any time a low-level caster busted out magic missile, lights started flashing red and sirens wailed. Good times. :)