It comes from The Market. It comes from some other entity saying, "This is worth X to us, and we're willing to pay that. Here's an offer."
THAT is value. I've already said this, but I'll say it again:
Revenue !== value.
Value is what someone is willing to pay (for the company). It is set by the market. Revenue may or may not be used by the suitor to determine value, that is, how much they're willing to pay to acquire the generated value.
Revenue !== Value
To clarify, they are all business in the legal sense. But a "solopreneur" who gets hits by a bus, leaves customers high and dry, and can't exit (i.e., have someone else carry on) is not to compared to an entrepreneur who generates value such that an exit is possible, and customers are less likely to get screwed.
Notice the modifier. That indicates it is not the only (and to many people, not even the most important) type of value.
Even if we accept your assertion that it's the best way to value something, that doesn't mean it's the only way to value something.