The studies that you have read show that people are unable to differentiate between high level tastes - other than when they have previously experienced those tastes (therefore, doing it from memory). The awards are therefore no indication if something is worthy of a pricetag or whether it’s an inexpensive wine that’s won a medal is a decent drink.
Right, but the corollary of that is that high level taste differences essentially don’t exist, and shouldn’t be of concern to anyone. I’m interested in receiving a basic quality product when I buy a bottle of wine, and a medal gives some indication of that.