" Good wine is not good because it is scarce, it is good because it is good, but it is more expensive because it is scarce."
No - not at all.
Good wine can be 'more expensive' simply because it is better!
There's more willingness to pay, i.e. better demand curve!
Doesn't need to be less supply!
Point being: not all labour is equal, ergo, the idea of something being valued upon the 'amount of labour' put into it is really not useful.