For me value is only an economic consideration. Specifically, value is the creation of profit where profit is not necessarily money. Profit can be time, enjoyment, increased production capacity, and so forth. Profit can be achieved by any combination of cost reduction and/or increase of output.

Perhaps the single greatest value add delivered by a person is through simplicity. When there are only two things to consider the clearest path forward is a straight line between the two points. When there are more than two things, as is almost always the case, the path forward is less clear. More challenging still is that this is a calculus problem, artifacts in continuous states of transition, as opposed to algebra problem of fixed data points.

When there are many variables at play the clearest path forward is often lost. It takes a brilliant person to find that clearer path, and thus add value. Brilliance is the most appropriate combination of qualities that provides for the best solution and is not necessarily higher intelligence. As Paul Graham would say this is often counter-intuitive to what you would expect or what might appear obvious.