I think I see some flaws in how we automatically label a company's value based on how much an investor is willing to invest. Why isn't a startup's "value" pegg

I think I see some flaws in how we automatically label a company's value based on how much an investor is willing to invest. Why isn't a startup's "value" pegged to real metrics? So in that sense, an investor is free to invest more, but they can't automatically raise the company's value simply by the fact that they were willing to invest more. Semantically I guess it's accurate, but we really should come up with a better way, or different words, to explain what it really means. Distilling it down to "a company's value is X" is extremely misleading IMO.