Point of Origin Meaningless in Under 15 Dollar Wine?

The wild popularity of sangria in a bottle has everyone, including Yellow Tail, jumping on board. But, as Wine Spectator reports, the European Union (EU) is looking to crack down on fauxgria, stating that it must come from either Spain or Portugal.

Interestingly enough, Deutsch Family Wine & Spirits Peter Deutsch, CEO of the company that imports Yellow Tail, is nonplussed by this regulatory edict from the EU. "At under $15, I think point of origin is going to be meaningless," he states. Deutsch is, of course, talking within the context of bottled Sangria, but does that hold true with table wines at that price point? Do you care where it comes from as long as the price is right and it tastes good? Does where a wine comes from only gain meaning at a higher cost?