Sorry, but that is not how a transmission line works. The wire has a distributed capacitance between itself and the backplane, in addition to the inductance. When the inductance and capacitance are balanced (by careful choice of geometry), the impedance of the line becomes non-reactive because the L and C cancel each other, so long as it matches the terminating resistance (load resistance). I have glossed over the minutae to convey the general picture.
That is why you can have a 1,000 km coaxial cable and not worry about the inductance increasing so much that the bandwidth becomes almost a few Hz.