>Value is found by everyone voting with their currency units on what the value of any given thing is.
To me what you're describing sounds like market price discovery versus value, which can also be functional usefulness or social worth, in the vein of the diamond–water paradox. A price is what someone is willing to pay, but value is something's worth. For example while selling a car if nobody is currently interested nearby it's market value is $0, but it's functional value as transportation persists.
On the other hand I might pay much less for something than its value would be through price discovery. For example I might be willing to pay an extremely high price for a life saving medication, but rules or laws deliberately limit price discovery, because leaving it to the market would be considered unjust for similar reasons to laws regarding externalities via the tragedy of the commons.
>if we had a way of finely grading, say, teachers, then the teachers in the top 1% percentile could likely demand extremely high paying salaries...because 99% of teachers would fail to make this grade.
This is already somewhat done with teachers. Those who teach wealthy children such as at a prep or private school make more money than those who teach poor children. The salary does not directly scale with the quality of teaching - for example a 2x better teacher might make 10x the salary, because the bidding power of the wealthy parent is much greater.
Because currency is unevenly distributed, voting with dollars reflects the wealth and preferences of those with more money, skewing prices. In an extreme example if person A can pay $1,000 for a life-saving treatment and person B $10,000, does that make person B’s outcome ten times more valuable? In that sense, market prices aren’t neutral measures of value and are more like an economic version of ‘might makes right'.