If your example isn't scarcity I don't know what to tell you, if better wine is "scarce" those labors are what is needed to make better wine.
Explain how it is possible, and how the situation does not immediately solve itself with you stopping doing something you hate and are bad at.
As many have pointed out, "value" is subjective. Your terrible wine may be loved by someone. Or you may really enjoy making wine. As wine has zero intrinsic value, it is a luxury good, it's very possible for both wines to be just as valuable.
It has plenty of meaning, it just doesn't explain "profit."
Explain how it is possible, and how the situation does not immediately solve itself with you stopping doing something you hate and are bad at.
As many have pointed out, "value" is subjective. Your terrible wine may be loved by someone. Or you may really enjoy making wine. As wine has zero intrinsic value, it is a luxury good, it's very possible for both wines to be just as valuable.
It has plenty of meaning, it just doesn't explain "profit."