[zwaps]

In reality there's a lot more in a product than just good and bad.

Especially with wine, where it is not actually so clear that a true quality ordering exists, all sorts of other effects are at play. For example, we know how the signaling value of price overrides some true quality variables.

In economics, its important to know these simple models and their outcomes, but it is equally important to know when other effects are at play, or when assumptions do not hold