It says that we confer value on things. We create the value in things. It's the act of conferring that makes things valuable. Now this is very important, because so many, in fact all fundamentalist ideas rest on the assumption that some things have intrinsic value and resonance and meaning. It's us who make those meanings.
Culture is a way of getting people to that point of understanding.
He was quite clearly saying that it's the transaction between you and it, and this context, which creates the value. But it is not something that religions generally understand. It is certainly not something that fundamentalists understand. For me, so many of the really critical bottleneck type problems of our time come from that difficulty of understanding that it's humans that make the value in things. We made it.