E.g. this is a Michelin-star place in Cupertino: http://goo.gl/maps/VsVNL. Right next to the highway, surrounded by a parking lot. Might as well be a Taco Bell.
This is another Michelin-star place in San Mateo: http://goo.gl/maps/KjdnP.
Of course I'm being somewhat facetious. There's not a lot of places to put a restaurant in the suburbs other than in a strip mall next to a Walgreens or in a building surrounded by a big parking lot. But that's my point--you're paying Manhattan prices to live in a suburb. Not a compact, walkable one like Greenwich, either, but a sprawl-y generic one that looks more or less like the faceless generic suburbs in any other part of the country.
It's true, the best restaurants (combination of great food and not super pricy) in the Valley are in Strip Malls.