There might not be any trade-off in your example. You're assuming that a solid wood piece of furniture is superior to the flatpack alternative and you can't really say that without knowing what the consumer needs.
I have a little Ikea Lack table that holds my printer. I paid less than $10 for the table and I don't even think it's wood (cardboard maybe?). It's getting close to 20 years old and is in great shape.
"there's no aesthetic difference between this beautiful portrait and the contemporary pile of trash in the corner"
Not sure who you are quoting...
Of course there's an aesthetic difference.
That’s one of the tradeoffs. And an undervalued one.
Absolutely. And it’s a trade off that doesn’t necessarily go against Ikea. Frankly, I think it’s one of the top reasons people choose Ikea furniture.
One of the genius things Ikea did was have little staged rooms in their store. They do a great job of these and lots of them look like rooms I’d want to spend time in. You see how that various pieces can be combined into something very inviting.