> The cost of making something was so high that the question of whether you should make it was a luxury.

Isn't this backwards? The cost of "can we?" was high, therefore the question of "should we?" was a necessity (not a luxury) that required taste to get a good answer that maximized the chance for a hit.

It's why musicians sought out Quincy Jones to produce their albums, and why Steve Jobs is revered.

In the digital age, everything is a/b tested to hell -- we've reverted back to endless variations of black Model Ts, if anything. The increasing commodification of execution has driven "can we?" down, thus, now "should we?" is the luxury; it's no longer required to ask upfront because you simply run through permutations.

At the end of the day, Taste™ has always been required to stand out in the market, but I think understanding the cause and effect is helpful.