This is an over simplistic view. Simplify the terms so much and you get garbage in, so obviously garbage out.

The russell 1000 value index is quantitative only and tries hard to define "cheap" stocks by different measures.

Value investing in the real world, especially when talking about Buffet, is heavily reliant on qualitative analysis. How else would Apple, Buffet's biggest holding, will be considered a value investment?

The title therefore is completely wrong. A good title would be: "Russell 1000 value index performed worse then their growth index recently"