Most people don’t have great taste. (And they don’t care, so it doesn’t matter to them.) They usually like tasteful, well-designed products, but often don’t recognize why, or care more about other factors when making buying decisions.
People who naturally recognize tasteful, well-designed products are a small subset of the population. But people who can create them are a much smaller subset.
Taste in product creation overlaps a lot with design: doing it well requires it to be valued, rewarded, and embedded in the company’s culture and upper leadership. If it’s not, great taste can’t guide product decisions, and great designers leave.
No amount of money, and no small amount of time, can buy taste.