What are you talking about? Labor value theory is one of the dumbest things ever. Value comes from a persons demand for it, not how much work went into making it. Without price signals, you'll always have massively distorted markets. Why do you think China abandoned their Marxist planned economy decades ago?

Marx is demonstrably wrong about every single one of his original ideas.

Value DOES come from demand for a product. But its price is driven down by supply. Food may have universal demand, but it only takes 1.3% of the population to feed the other 98.7% into obesity (at least here in the US) and still have enough left to throw most of it away. Not only that but farming is a relatively accessible industry relative to luxury electronics. Most people can because a farmer. Electrical engineer? Not so much.

Food does have more demand but its glutted (literally) with so much supply that food is super cheap. Probably most people would want a luxury TV as well but there are not enough to go around.

Value is essentially subjective and extremely hard to nail down. Price on the other hand is more objective and can be somewhat predicted by a rational economic model.