No, value is determined by what participants in a market are willing to pay for something. The only reason you are able to say that the value of gold is determined by its weight is that gold is a commodity and no matter what you paid for it you'll find others willing to pay market price.
Simon is saying that companies are (today) willing to pay API prices for tokens which is as good as any determination of value.
Simon is saying that companies are (today) willing to pay API prices for tokens which is as good as any determination of value.