I've read this type of study several times - either I have especially sensitive taste or there is something wrong with the studies because it is simply not true that there is no correlation between taste and price.
Can I tell the difference between a $15 bottle and a $40 bottle? No, I don't taste price. Are as many $15 bottles excellent as $40 bottles? Absolutely not.
One flaw: if you pick a random $40 bottle and a random $15 bottle and ask someone which they like, this is not a valid study. You need to pick a wine that both costs $40 AND IS WORTH $40 and likewise a wine that's WORTH $15. Just because a wine is $90 doesn't mean it's great, but if a wine is $2 it probably sucks.
The correlation is there and pretty strong, particularly when moving from $2 to $8 to $15, but it is not perfect. Price != taste.