I completely agree that the entire package has to be considered to deterine value. Everyone has a different expectation as to what a good value is for them.
If you've cruised frequently and have done a number of the popular itineraries, for example, the Carribbean. If you've already been there a number of times, even at $250 per day per person, and you don't see yourself going to Grand Cayman, Cozumel and St. Thomas AGAIN, then there is no value for you. But if you've never been to Alaska, a per diem of $400+ per day, may be a great value for you if you were partial to RSSC (as most of us here seem to be!). Again, you can do these itineraries for far less, so the value for you is in the services and amenities included or not included. As for us, we try to stretch our travel budget by selecting cruises where there are special pricings, by booking early, and that fit our timetable!